Three months after announcing that he’d step down as CEO of Netflix, Reed Hastings has found his next project: He just became a co-owner of Powder Mountain, a troubled Utah ski resort that, as Fortune recently reported, was once touted as an eco-friendly utopia-in-the-making for socially conscious founders, stars, and ultra-wealthy ski enthusiasts.
Hastings, who is worth an estimated $3.5 billion, and his wife, Patty Quillin, bought a plot on the mountainside and built a modernist wooden cylindrical home there eight years ago. Avid skiers and snowboarders, the couple become seasonal neighbors to Martin Sorrell, founder of the marketing behemoth WPP, and Ken Howery, a cofounder of PayPal. They were among a long list of prominent business figures drawn to the vision for an alpine Shangri-la laid out by the young founders of a glitzy conference series.
