Netflix Co-Founder Reed Hastings Donates $1.1B in Shares to Charity

The donation, representing 40% of Hastings' Netflix holdings, goes to the Silicon Valley Community Foundation, reducing his net worth to around $5.5 billion.

Netflix co-founder and Executive Chairman Reed Hastings has donated 2 million shares, valued at $1.1 billion, to the Silicon Valley Community Foundation.
The donation represents about 40% of Hastings' Netflix holdings, reducing his net worth from $6.6 billion to around $5.5 billion.
The Silicon Valley Community Foundation, founded in 2007, is a popular charity among tech founders, offering tax breaks and privacy to donors.
Hastings has a history of philanthropic efforts, particularly in education and support for historically Black colleges and universities.
Despite the donation, Hastings still retains nearly 3 million shares in Netflix.