Wilmot Reed Hastings Jr, an American entrepreneur is the co-founder, CEO, and chairman of Netflix, and he has amassed a substantial fortune because of this. From 2011 to 2020, Reed served on the Facebook board of directors, ironically, he doesn’t use Facebook and never has and from 2007 until 2012, he served on the Microsoft board of directors.
Reed Hastings Biography And Net Worth
|Net Worth $1 billion|
|Full Name Wilmot Reed Hastings Jr.|
|Birth Date October 8, 1960|
|Age 61 years|
|Birthplace Boston, Massachusetts, U.S.|
|Profession Entrepreneur, Businessperson, CEO Netflix|
|Spouses Patricia Quillin|
Hastings Early Life
In Boston, Massachusetts, on October 8, 1960, Wilmot Reed Hastings Jr. was born. Before enrolling at Bowdoin College in Maine, he spent a year selling vacuum cleaners door-to-door after graduating from high school. He attended the Marine Corps Platoon Leader School over the summers in preparation for joining the Marines following graduation. Instead, he decided to join the Peace Corps the day after receiving his diploma. Reed served in the Peace Corps, instructing math in Swaziland schools. He decided to apply to graduate programs at this time, his top option was M.I.T., but after being turned down, he decided on Stanford. He earned his master’s degree in computer science in 1988.
Hastings Success-Pure Software
At the age of 31, Reed joined the founding of Pure Software, and Purify, a debugging tool for Unix/C engineers, was the company’s first offering. The business combined with a rival named Atria a year later to form Pure Atria Corporation. Rational Software later paid $750 million to purchase Pure Atria. Up until that point, it was the biggest acquisition in Silicon Valley’s history. Both companies’ stocks decreased by 40% on the day the agreement was announced. Hastings was appointed CTO of the newly united business, although he left soon after the acquisition.
Hastings and Marc Randolph, a former employee of Pure Software, co-founded Netflix in 1997 to provide flat-rate movie rentals by mail to customers in the US. After leaving Pure Software, Hastings came up with the concept for Netflix. Hastings admitted that he didn’t know whether people would utilize Netflix when he first started the company. As Netflix expanded, the business became known for its creative management techniques, which were the outcome of the “Freedom and Responsibility” culture that Hastings was investigating. To broadcast movies and television episodes to computers, Netflix introduced service in 2007. With approximately 200 million customers as of this writing, Netflix has a market valuation of $230 billion. In the economic world and the entertainment sector, he is undoubtedly the most significant and powerful figure.
Reed resides in Santa Cruz, California, with his wife Patricia Ann Quillin, and their two kids.
Hastings’s Net Worth
Hastings has an estimated net worth of $1 billion as of 2022. Reed’s estimated net worth peaked at almost USD 7 billion in the period when his company Netflix stock was frequently rising. The Netflix base compensation for Reed Hastings is $650,000, which represents a compensation reduction from the roughly $3 million basic salary he received over several years between 2010 and 2014.
Reed Hastings Height & Weight
|Weight 76 kg|
|Eye Color Blue|
|Hair Color Grey|