Reed Hastings Gifts $1.1 Billion Of Netflix Stock To Silicon Valley Nonprofit

Jill Goldsmith

29 January 2024 at 7:36 pm·1-min read

Netflix founder and executive chair Reed Hastings has gifted 2 million shares, worth over $1.1 billion at the stock’s current price, to the Mountain View, California-based Silicon Valley Community Foundation, Deadline has confirmed.

The move was noted in a recent SEC filing without the beneficiary named. The donation was a big chunk of Hastings’ Netflix stock — about 40%. He still owns 2,991,541 shares, the filing said.

More from Deadline

The stock has been having a great run and closed today at $575.08.

Hastings had a net worth of $6.6 billion before the latest gift, according to the Bloomberg Billionaires Index. He has donated to educational institutions led by HBCUs (Historically Black Colleges and Universities). Last year, he gave $20 million to Minerva University in San Francisco.

Hastings stepped down as co-CEO of Netflix with Ted Sarandos a year ago. Greg Peters is now co-CEO.

The Silicon Valley Community Foundation is a nonprofit public benefit corporation dedicated to charitable activities, and the largest charitable foundation in Silicon Valley. Reps didn’t immediately respond to request for comment on the windfall.

Best of Deadline

Hello!
Prince Harry and Meghan Markle's reaction revealed as God Save the King is sung - watch
Prince Harry and Meghan Markle were filmed when God Save the King was sung during their tour of Nigeria. Watch the clip here…
Edinburgh Live
Passenger praised for '14 hour karma' as 'entitled couple steal her plane seat'
A woman has been praised for getting '14 hour revenge' on an entitled couple who stole her plane seats to satisfy their own comfort
The Telegraph
I had a happy family and a good job as a GP – but I decided to kill myself
On 1 August 2022, Sarah Jacques walked out of her GP surgery in the middle of the day, got into her car and started driving. She drove past her house but didn’t stop, and kept going for another 20 miles until she reached the Sussex coast. There, she turned off the engine, sat in the car, and for the next six hours contemplated ending her life.
The Telegraph
Man and woman punched to the ground and stomped on in suspected mugging
A man and a woman were punched to the ground and stomped on in a suspected mugging in north-west London.
Bristol Live
Thirty drunken yobs ejected from easyJet flight at Bristol Airport after trying to go to the toilet during take off
There was a huge cheer from the rest of the passengers when the door closed behind the last one
Birmingham Live
Drivers face 'big penalties' for not pressing car buttons as temperatures rise
Motorists have been warned they could face "big penalties" if they fail to press an important button located in almost every vehicle as temperatures rise this weekend
The Independent
Eurovision: Netherlands reveals why Joost Klein was disqualified from Grand Final
’The penalty was very heavy and disproportionate,’ contest’s Dutch organisers said
Manchester Evening News
'It's done' - Manchester United star 'reveals' Erik ten Hag replacement
Erik ten Hag is expected to leave Manchester United at the end of the season and a current player has reportedly named his replacement
My London
Only Fools and Horses' Gwyneth Strong's life with famous EastEnders star husband
Gwyneth Strong is best known for playing Cassandra Trotter in Only Fools and Horses, but the actress is also married to a soap star who has appeared in EastEnders
Yorkshire Live
'Our dream of retiring to our second home by the seaside is turning into a nightmare'
Fiona Wilson, 66, and her husband, David, 68, bought the seaside property in Whitby, North Yorkshire, 14 years ago as a rental opportunity - but now they face a 'punitive' tax rise
Edinburgh Live
Couple discover they do not own dream home despite living there for five years
During a legal battle the couple were informed they had no legal right over the property and that it belonged to the former owner, a pensioner who they bought it from five years previous
OK! Magazine
Our Yorkshire Farm’s Reuben Owen makes tragic discovery with girlfriend Sarah
Our Yorkshire Farm star Reuben Owen was left devastated after making a tragic discovery while on a break to France with his girlfriend Sarah Dow in the latest episode of his new show
The Telegraph
The mishaps in the Duchess of Sussex’s Nigeria outfits that scream ‘royal tour’
The Duchess of Sussex may have been unhappy as a working member of the Royal family, but if her current Nigeria tour wardrobe tells us anything, it’s that she’s picked up a few tricks from her time within the Firm.
Bradford Telegraph and Argus
Can someone use my driveway to turn around without permission?
Is it okay for someone to use my driveway to turn their car around without permission in the UK?
The Independent
Eurovision winner Nemo hits out at organisers over ‘unbelievable double standard’
’Maybe Eurovision needs fixing,’ singer said moments after winning
Wales Online
Woman's 3-ingredient homemade weed killer spray stops them coming back for good
Weeds can be a real pain to get rid of, but this is a homemade weed killer that uses three common household items
Birmingham Live
Weather maps turn orange as Saharan plume heads for UK with temperatures set to rocket again
The Met Office has said it will 'still feel warm'
Yorkshire Live
'I live in a council house but give my 11-year-old daughter £500 a month pocket money'
Whitney Ainscough, 30, from Rotherham, said people think she is 'absolutely mad'
The Telegraph
Anita Rani wows Baftas in ‘loving my life’ see-through dress
It wasn’t so much a revenge dress as an “I’m loving my life” dress. Amid a host of TV stars who took to the Baftas red carpet on Sunday evening, it was Anita Rani in a sheer, pearl encrusted gown who stole the show.
Wales Online
Drivers make cars 'invisible' to speed and bus lane cameras
Around one in 15 drivers ‘gaming’ the system using 'staggeringly simple' methods - but now councils are hitting back

Shoppers rave about versatile John Lewis dress you can style for any occasion

Reed Hastings Gifts $1.1 Billion Of Netflix Stock To Silicon Valley Nonprofit

Latest stories

Prince Harry and Meghan Markle's reaction revealed as God Save the King is sung - watch

Passenger praised for '14 hour karma' as 'entitled couple steal her plane seat'

I had a happy family and a good job as a GP – but I decided to kill myself

Man and woman punched to the ground and stomped on in suspected mugging

Thirty drunken yobs ejected from easyJet flight at Bristol Airport after trying to go to the toilet during take off

Drivers face 'big penalties' for not pressing car buttons as temperatures rise

Eurovision: Netherlands reveals why Joost Klein was disqualified from Grand Final

'It's done' - Manchester United star 'reveals' Erik ten Hag replacement

Only Fools and Horses' Gwyneth Strong's life with famous EastEnders star husband

'Our dream of retiring to our second home by the seaside is turning into a nightmare'

Couple discover they do not own dream home despite living there for five years

Our Yorkshire Farm’s Reuben Owen makes tragic discovery with girlfriend Sarah

The mishaps in the Duchess of Sussex’s Nigeria outfits that scream ‘royal tour’

Can someone use my driveway to turn around without permission?

Eurovision winner Nemo hits out at organisers over ‘unbelievable double standard’

Woman's 3-ingredient homemade weed killer spray stops them coming back for good

Weather maps turn orange as Saharan plume heads for UK with temperatures set to rocket again

'I live in a council house but give my 11-year-old daughter £500 a month pocket money'

Anita Rani wows Baftas in ‘loving my life’ see-through dress

Drivers make cars 'invisible' to speed and bus lane cameras