⬅ # 689 Stéphane Bancel|# 691 Kjell Inge Røkke

# 690 Reed Hastings 

$4.58B

Real Time Net Worth
as of 6/24/2024
-$90.5M (-1.97%)

# 690 Reed Hastings 

$4.58B

Real Time Net Worth
as of 6/24/2024
-$90.5M (-1.97%)
OccupationCofounder and Chair, Netflix
Source of WealthNetflix
Age63
ResidenceSanta Cruz, California
Marital StatusMarried
Children2
EducationBS, Bowdoin College; MS, Stanford University
Age-Adjusted Net Worth$3.74B
Reed Hastings
Reed Hastings
United States
Net worth: $4.58B

Self-Made Score 

Wealth History

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Biography

Overview

Reed Hastings, the billionaire co-founder and chairman of Netflix, transformed the entertainment industry with his innovative approach.
He owns approximately 2% of Netflix, which went public in 2002, contributing significantly to his wealth.

Early Life

Born on October 8, 1960, in Boston, Massachusetts, to Wilmot Reed Hastings Sr. and Joan Amory Loomis.
Attended Buckingham Browne & Nichols School and later graduated from Bowdoin College in 1983 with a Bachelor of Arts degree in Mathematics.
Joined the Marine Corps officer training but opted to serve in the Peace Corps, teaching math in Swaziland from 1983 to 1985.
Earned a Master's Degree in Computer Science from Stanford University in 1988.
Credits his time in the Peace Corps for fostering his entrepreneurial spirit.

Career

Founded Pure Software in 1991, a company focused on troubleshooting software.
Co-founded Netflix in 1997, offering flat-rate movie rental-by-mail, which later evolved into a streaming giant.
Led Netflix to innovate with its management practices, known for its 'Freedom and Responsibility' culture.
Served on the board of Microsoft from 2007 to 2012 and Facebook, Inc. from 2011 to 2019.
Majority owner of Powder Mountain ski resort in Utah following a $100 million investment in 2023.

Philanthropy

Advocated for education reform, serving on the California State Board of Education and promoting Proposition 39 in 2000.
Active supporter of charter schools, donating to open new schools and advocating for their expansion.
Founded Hastings Fund and pledged $100 million to children's education.
Donated $120 million in 2020 to historically Black colleges and universities (HBCUs), the largest individual donation ever to support scholarships at HBCUs.
Contributed to various causes, including supporting COVID-19 vaccine initiatives and providing aid to Ukrainian nonprofits.

Personal Life

Resides in Santa Cruz, California, with his wife Patricia Ann Quillin and their two children.
Transitioned from owning a Porsche to driving a Toyota Avalon and now a Tesla.
Appeared in podcasts and delivered commencement addresses, reflecting on business strategies and societal issues.
Engages in political donations, supporting candidates and initiatives aligned with his beliefs.

How long would it take you to become as rich as Reed Hastings?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Reed Hastings's net worth of $4.58B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Reed Hastings is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Reed Hastings, Netflix is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey