African-American billionaire Oprah Winfrey earned a profit of $6.6 million from the $17.1-million sale of her A-list Montecito estate in California, which included a Mediterranean-style main house and two small cottages.
The news comes more than a year after the 68-year-old TV personality paid $10.5 million for the 2.1-acre estate and also incurred extra expenses for renovation and separating the main house from the cottages.
Her decision to split the estate in 2021 paid off quickly, as she sold the Mediterranean-style main house to American actress and producer Jennifer Aniston for nearly $14.8 million, while the two cottages were purchased for $2.3 million by Winfrey’s longtime personal trainer and property manager, Bob Greene.
This brings the total proceeds from the sale of the estate to $17.1 million, while Winfrey’s gross profit from the transaction, excluding renovation expenses, is estimated to be $6.6 million.
Aniston’s new home, which sits on one acre of land, has four bedrooms, three full bathrooms, and one half-bath. It also has well-kept gardens, terraces for entertaining, mature oak trees, and a motor court that can easily accommodate 15 cars.
Winfrey has amassed a thriving media empire that includes Harpo Productions, which has co-produced films such as “The Color Purple,” “Beloved,” and “Selma.”
Aside from creating memorable moments from conversations and building an empire around them, the African-American talk show mogul has also demonstrated her ability to make sound investment decisions, particularly in the real estate and property markets.
Winfrey owns a number of other properties, including a $30-million estate next door to the one that she sold to Aniston.
Her primary residence is still her 66-acre “Promised Land” estate in Montecito, which is anchored by a 20,000-square-foot mansion.