community: Celebs Rumors

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Reed Hastings Gives Netflix Shares Worth $500 Million as a Gift to Silicon Valley Community Foundation

Todd Spangler NY Digital Editor Reed Hastings has given away 790,000 shares of Netflix — worth nearly $500 million — as a gift, according to a regulatory filing. According to a source familiar with the stock transaction, the streaming mogul gifted the shares to the Silicon Valley Community Foundation, the organization to which he had given 2 million Netflix shares in January. All told, the stock he’s granted to the charity is worth about $1.76 billion today.
variety.com

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