Reed Hastings Net Worth
Reed Hastings’s full name is Wilmot Reed Hasting Jr. He is an American entrepreneur. Reed is the CEO of Netflix. Reed’s net worth is $5.9 Billion. Through this article, we will explore his life journey.
Early Life of Reed: Reed Hastings was born on 08th October 1960 in Boston Massachusetts. He is the founder, chairman, and CEO of Netflix. Reed is the son of Wilmot Reed Hastings and Joan Amory Loomis. His wife’s name is Patricia Ann Quillin. they have two children. currently, Reed is living in Santa Cruz California
Reed went to Buckingham Browne and Nichols Scool in Cambridge Massachusetts. Then he got his college degree in 1983 from Bowdoin College in Mathematics. Before his college admission, he had a gap of one year and he worked as a salesman. He sold vacuum cleaners by going door to door.
He joined Marine Corps training but left this and join Peace Corps. For two years from 1983 to 1985, he taught Math at a high school. This school was in rural northwest Swaziland.
After completing his training at Peace Corps he went to Stanford University for a Master’s degree in Computer Science.
A career in technology: Reed has worked in various fields from technology to education, as a businessman, a social reformer, and a political activist He is famous for his new venture Netflix.
Netflix was started in 1997. Netflix’s headquarter is in Los Gatos. It is an American streaming service providing a wide variety of TV shows, documentaries, and web series.
His career first job was at Adaptive Technology where he created a tool for debugging software. It is Reed’s specialty that he learned from everything that he did. Once he told me that working at Adaptive Technology taught me the value of Focus. In 1991 he left his job and started his own company pre Software. This company deals in troubleshooting software. This was a challenging task for him to manage all his responsibilities as CEO of this software company. But he learned to be a good businessman from this and The company was acquired by Morgan Staley in 1995.
His next step in his success journey was to start his new company named Netflix. Netflix was cofounded by Reed and Marc Randolph. The idea came after he got to pay a six-week late fee of $40 for “Apollo 13” to a video store. I had misplaced the cassette. It was all my fault. I didn’t want to tell my wife about it. And I said to myself, ‘I’m going to compromise the integrity of my marriage over a late fee?’ Later, on my way to the gym, I realized they had a much better business model. You could pay $30 or $40 a month and work out as little or as much as you wanted.” Netflix started its business by selling and renting DVDs. The net worth of Netflix is around $40 Billion.
Hastings worked as board of directors for many companies like Facebook, and Microsoft. Also, he has shares in both companies from which he earns a good profit.
Hastings has worked for educational reforms too and spent millions on this work. He has supported many political leaders as political activists in 2016 he supported Hillary Clinton in US presidential elections.
Reed has supported and when required with financial assistance too e.g. donated $30 million to GAVI to support the COVAXCOVID vaccines initiative.
Hence we see that he is not only a good businessman but also a contributor to society whenever required.