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Oprah Takes a Million Dollar Loss By Dropping the Oprah Store

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oOprah Winfrey may have a hit with her television network, OWN, but she has been hit in the wallet by taking a loss on a property that she financed in Chicago. Oprah recently sold the building that housed her Oprah Store for $875,000. According to the Chicago Tribune Oprah’s company bought the property at 1.987 million. The sale came at a loss of more than $1 million dollars. The store sold clothing form “Oprah’s Closet” and all proceeds went to charity.

Last summer Oprah took a loss on an eight co-op unit in Chicago’s Streeterville neighborhood, losing $3 million. However, for a billionaire, that is like losing three cents of a dollar. Oprah is the only African American billionaire with a reported Forbes worth of $2.8 billion. The talk show host turned media mogul has had her share of setbacks and knows how to bounce back well.

When Oprah first started her OWN Network, viewers and fans were not flocking to tune in. It was not until she did an exclusive interview with cyclist, Lance Armstrong that things started to turn around. Overnight, Oprah Winfrey became the black Barbara Walters again. Other major interviews followed, like the interview with Rihanna, in which she was able to get the singer to open up about the tumultuous relationship with Chris Brown . There was also the interview with the late Whitney Houston’s mother, Cissy Houston and her brother, who admitted to getting the singer hooked on drugs, which ultimately became her demise. Just recently Oprah sat down with NBA player Jason Collins to talk about him coming out to the world.

A woman who wears many hats, Oprah is returning to the big screen for Lee Daniel’s new film, The Butler, which has an anticipated release date of August 16,2003.

Asa Lovechild is an accomplished actress and singer out of New York City and a supporter of  One Billion Rising

Follow @asalovechild

www.facebook.com/asaentertainmentgroup

www.asalovechildworld.com

242 Comments

  1. Nothing But The Truth!

    May 14, 2013 at 9:45 pm

    Dr. Boyce Watkins and Ms. Yvette Carnell are more than ever engaged in a discussion of topics that are both important and of great interest to our African-American community! Keep up the amazing work that you are now doing! However, Dr. Boyce Watkins needs to stop introducing Yvette Carnell as “My partner in crime, Yvette Carnell!”

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