Media mogul Oprah Winfrey has reportedly sold her 43-acre waterfront estate on Orcas Island for $14 million. Oprah first bought the property, which is located in Washington estate, for $8.3 million in 2018, according to the New York Post.
Two years earlier, the property went on the market for sale at $12 million but failed to sell at the price. The estate, known as Madroneagle, is the heaviest price paid for an Orcas Island property, according to bizjournal.
The main home, which overlooks the East Sound, is made up of four bedrooms and three baths, spanning over 10,200 square feet which were remodeled by Oprah. It also has a gated entry, two fireplaces, wine cellar plus a half-mile of West-facing shoreline.
Jen Cameron, Coldwell Banker Bain broker and Vice President of Global Luxury, represented the buyer. According to Bizjournal, the property was not formally listed but the buyer heard rumors that Oprah was amenable to selling the property.
They reportedly approached Bob Greene, who is Oprah’s fitness guru and property manager. Wally Gudgell, who has 44 years on Orcas Island, represented Oprah in the sale. Gudgell told bizjournal that the media mogul sold the property because she wasn’t there often.
“They just figured she’s too busy and never going to really use it, and that’s why they were willing to sell it,” Gudgell said. While the identity of the buyer is not readily known, Bizjournal reports that they are from the greater Seattle region.
Oprah and Greene will remain landlords on Orcas Island as they will keep other many commercial properties they own together on Orcas Island. “That includes the Brown Bear building, which contains Brown Bear Baking; the Darvill building, which houses Crow Valley Pottery and Darvill’s Bookstore; the Porter Station building, which has a gift shop and The Madrona Bar and Grill; and Eastsound Square, which is filled with lots of small adjoining shops,” according to Bizjorunal.
Oprah, 67, has a net worth of $2.5 billion and made her money from reinvesting profits from her talk show, her cable network, weight watchers and a multiyear content partnership with Apple tv+.
According to Forbes, her 25.5% stake in cable Channel OWN is worth more than $65 million while her stake in Weight Watchers is around 10%.
Oprah is known for her eponymous TV show and her philanthropic ventures that have made her a beloved personality across the world. She has a Bachelor of Arts/Science degree from Tennessee State University.