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Broadcasting & Cable
Broadcasting & Cable
Business
Daniel Frankel

As in ‘Billion’ With a ‘B’: Reed Hastings Donates $1.1 Billion in Netflix Stock to Charity

Reed Hastings Netflix
Reed Hastings, founder and CEO, Netflix during the Hindustan Times Leadership Summit, at Taj Palace on December 6, 2019 in New Delhi, India.

Netflix co-founder and executive chairman Reed Hastings has donated 2 million shares of Netflix stock, valued at around $1.1 billion, to an unidentified group, according to a Securities & Exchange Commission filing. 

According to numerous reports, the unnamed entity is the Silicon Valley Foundation, a popular charity for tech-biz earth movers because of the tax breaks and privacy it offers. 

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