Oprah at 70: how she makes and spends her billions – from the media mogul’s private jet and property portfolio valued at over US$630 million, to her educational philanthropy in S Africa and the US
From 80s talk show host to media mogul and one of the most iconic women in the world, Oprah Winfrey has blazed an incredible trail for herself and others over the last five decades.
The first self-made Black female billionaire in the US, Oprah has an estimated net worth of US$2.8 billion, per Forbes.
And she celebrates her 70th birthday on January 29 – so what better time to reflect on her life and money? We break down her success over the years.
Oprah Winfrey made her start as a talk-show host
Oprah first rose to fame in the 70s as a host of the talk show People Are Talking, before transitioning in the mid-80s to hosting her own.
The Oprah Winfrey Show ran for 25 seasons, winning 47 Daytime Emmys and becoming the highest-rated talk show in American television history. By the end of the show’s run, Oprah was earning a reported US$315 million a year as its host.
Oprah had originally signed a US$1 million, four-year contract – but quickly founded her own company Harpo in 1986, and began producing her own shows. On her website, Oprah wrote that she decided to take ownership of her show so that “I could be my own boss and have my own space”.
The Harpo Studios building was demolished in 2016, but Oprah said the show’s legacy would live on: “It’s the work. It’s the people who gave diligently, from their hearts, every day. It’s every life that was touched by what we put out into the world. It’s the lessons learned, the joys we shared, the challenges we overcame.”
A billionaire media mogul
Oprah grew up in poverty and at first was content with “well-paid” contracts – that is, until she hired Chicago lawyer Jeffrey Jacobs, whom she had heard described as a “piranha”.
“I had to get rid of that slave mentality. That’s where Jeff came in. He took the ceiling off my brain,” she told Forbes in 2014.
Oprah has since starred in various films over the years, including The Color Purple, Beloved and Selma. These and other projects, like The Oprah Winfrey Show, The Dr Oz Show and The Nate Berkus Show, include production credits from Oprah or Harpo Studios.
Harpo also helped develop TV stars Dr Phil and Rachael Ray.
In 2011, Oprah launched her own cable channel, the Oprah Winfrey Network (OWN). While OWN was originally a 50/50 joint venture with Warner Bros Discovery, Oprah sold most of her shares to Discovery in 2017 and 2020. She earned US$36 million from the second deal, which upped Discovery’s stake from 73 to 95 per cent.
Besides creating and selling companies, Oprah has bought into several others over the years, too.
Networking service The Org lists her as owning or having shares in Weight Watchers, True Food Kitchen, Oatly, Apeel Sciences, Oxygen Media, the Oprah Winfrey Leadership Academy for Girls and Oprah’s Angel Network.
Writing a piece in her O Magazine, Oprah described earning and spending as an “energy exchange” whereby the effort she puts into work is rewarded with money she can use to provide for herself and improve the lives of others.
“I’ve always had a great relationship with money, even when I barely had any to relate to,” she continued. “I never feared not having it and never obsessed about what I had.”
An impressive property portfolio
So, how does Oprah spend her money? Beyond creating her own businesses and investing in others, the mogul has mostly spent her fortune on sprawling properties, philanthropic programmes and a private jet.
According to Architectural Digest, Oprah owns, or has owned, properties in the US states of Illinois, Florida, Hawaii, Tennessee, Indiana, Colorado, California and Washington.
From city condos and a luxury hotel flat, to a farmhouse on Maui and her sprawling Promised Land mansion, Oprah’s property portfolio is extensive. Last year, House & Garden UK estimated her portfolio’s value at more than US$630 million.
At the centre of it is her home in upmarket Montecito, California, where she’s neighbours with Prince Harry and Meghan Markle. The New York Post reported the property is worth US$100 million and sits on grounds stretching over 17 hectares (42 acres).
The estate has a fruit orchard, an equestrian ring and a serene garden that Oprah refers to as her personal sanctuary. The main house covers 23,000 sq ft and has six bedrooms, 14 bathrooms, a theatre, a library and 10 fireplaces.
Speaking in an Oprah Daily feature, the media proprietor said, “I don’t know anybody who appreciates home as much as I do. Having a beautiful home, having a beautiful space has always been one of my life goals.”
Giving to philanthropic concerns
Oprah has always advocated for the young and less fortunate, empowering them however she can. She has donated millions to community outreach programmes and institutions that improve the lives of the talented and most in need.
She owns a school in South Africa, the Oprah Winfrey Leadership Academy for Girls, which opened in 2007 at a cost of US$40 million, according to ABC News. Oprah called the school “the fulfilment of my work on Earth”.
The media mogul has also donated to historically Black schools and universities, giving more than US$1 million to the United Negro College Fund for scholarships, and US$13 million to her scholarship programme at Morehouse College in Atlanta, Georgia, in 2019, reported Good Morning America.
Oprah also offers disaster relief and humanitarian help through her Oprah’s Angel Network charity, launched in 1998, which has come to the rescue in the aftermath of floods in New Orleans, and assisted with post-hurricane rebuilding in Texas, Mississippi, Louisiana and Alabama, its website explains.
The Oprah Winfrey Charitable Foundation has, to date, donated US$400 million, served 75 million meals, and provided education to 72,000 people in need.
“My dream is for us to build a movement of empathy, empowerment and excellence,” Oprah said of her philanthropic work.
Private jet
One of Oprah’s largest purchases outside property and donations was a private jet, which she described to British Vogue as her “greatest luxury in life”.
According to Simple Flying, Oprah owns a G650ER valued at around US$75 million, including customisations.
The plane has a galley space with an oven, microwave and coffee maker; seats for 16 passengers that can be converted into beds; a four-seat “conference room” area that can be closed off; and two luxurious bathrooms – one with a shower.
