Reed Hastings is a well-known entrepreneur from America who is best known to be the CEO and co-founder of ‘Netflix’. He also serves on the board of Facebook. Hastings is also a philanthropist and serves on the board of several non-profit organizations. He is an advocate for education and was the member of California State Board of Education. Let’s find out more about how much is Reed Hastings’s net worth in 2019.
Wilmot Reed Hastings, Jr. was born on October 8, 1960, in Boston, Massachusetts to his parents Wilmot Reed Hastings and Joan Amory Hastings.
He did his schooling at Buckingham Browne & Nichols high school, following that, he enrolled in the Marine Corps. Hastings completed his college at Bowdoin College and in 1983 he became a math teacher in Swaziland by joining Peace Corps. In 1988, he earned his master’s degree in computer science from Stanford University.
Reed Hastings has married his wife Patricia Ann Quilin. Together, they are the parents of two children. He resides with his family in San Francisco Bay Area.
In 2009, he donated over $250,000 for a Budget Reform Now. In 2006, Hastings donated $1 million to Beacon Education Network for opening up of new charter schools across Santa Cruz County.
Reed Hastings started his career as a software developer in Adaptive Technology. In there, he used to work under Audrey MacLean. He left the position in 1991. Following that, he went on to form the company ‘Pure Software’ along with Mark Box and Raymond Peck. The company used to produce software products and grew substantially over the years.
Hastings became the CEO of Pure Software. In 1996, the company got merged with Atria and became Pure Atria Corporation. In 1997, it was acquired by Rational Software.
In 1997, Reed Hastings became the co-founder of Netflix along with Marc Randolph. As a media rental service, Netflix used to offer media rental by mail for the customers in the USA. By 1998, it started DVD operations. The company soon grew and went on to become a globally known brand. The company has over 65 million subscribers as of 2015.
Hastings was also on the board of Microsoft from 2007 till 2012. In June 2011, he became on the board of director of Facebook. He was the CEO of the political network of business executives called ‘Technology Network’.
Awards & Achievements
One of the biggest career achievements of Reed Hastings is to be the founder of Netflix. He has also successfully co-founded Pure Software. In 2014, Reed Hastings was conferred with the Henry Crown Leadership Award for his contribution to philanthropy and for his achievements as an entrepreneur.
Net Worth of Reed Hastings
Reed Hastings has an estimated net worth of more than $2.3 billion. He amassed this fortune from his career as an entrepreneur. He has successfully cofounded ‘Pure Software’ and ‘Netflix’. The company today has become a prominent internet television and he also owns shares over $10 million in Facebook. His company Netflix has started the service to stream movies from television to computers starting from 2007. Hastings amassed this fortune after his company went public and saw an increase in the value of the shares.
Reed Hastings is considered one of the most popular entrepreneurs the world. He has successfully formed Netflix. He has also been involved in various political activism and is on the board of California State Board of Education. He is an active educational activist and his popularity has also made him appear in the project of FACES: TECH. In 1995, Reed Hastings appeared in the front-page of USA Today. He has donated in millions to various organizations primarily to the education sector.