Billions On Demand: Netflix Founder’s Net Worth Rises 0 Million In Two Weeks

Reed Hastings, cofounder and CEO of Netflix, attends an event in 2015 celebrating the company’s launch in Japan. (Photo by Ken Ishii/Getty Images) Call him Unbreakable Reed Hastings. In 2011, the future looked grim for Netflix. After the company announced a plan to separate its DVD and streaming businesses, customers fled and its shares crashed 75% within six months. Netflix’ stock has since jumped more than 20-fold and, as of Friday, is now trading at an all-time high. For Hastings, the entertainment company’s cofounder and CEO, those gains have been hugely lucrative. His roughly 3% stake in the business is now worth well north of $1 billion. Altogether, his personal fortune currently stands at $2.2 billion, according to Forbes’ real-time rankings of the world’s billionaires. In the last two weeks alone, Hastings’ net worth has spiked nearly $400 million. That surge is largely attributable to Netflix’ second-quarter earnings report, released on July 17, which showed significant growth in revenue and subscriptions. The company added 5.2 million subscribers in the quarter—far more than its internal forecast of 3.2 million—and now has 104 million members in more than 190 countries. “We underestimated the popularity of our strong slate of content which led…


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