{"id":236666,"date":"2024-01-30T06:48:11","date_gmt":"2024-01-30T14:48:11","guid":{"rendered":"https:\/\/www.mediaplaynews.com\/?p=236666"},"modified":"2024-01-30T08:54:06","modified_gmt":"2024-01-30T16:54:06","slug":"reed-hastings-sells-1-1-billion-worth-of-netflix-stock","status":"publish","type":"post","link":"https:\/\/www.mediaplaynews.com\/reed-hastings-sells-1-1-billion-worth-of-netflix-stock\/","title":{"rendered":"Reed Hastings Sells $1.1 Billion Worth of Netflix Stock"},"content":{"rendered":"

Netflix co-founder and executive chairman Reed Hastings has disposed of 2 million shares, or 40% of his ownership stake, worth a current value of $1.1 billion, according to a regulatory<\/a> filing.<\/p>\n

No explanation was given for the transaction, with media reports suggesting the move was a gift to an unknown beneficiary from the Hastings-Quillin Family Trust. Patty Quillin, a reported documentary film producer and philanthropist, has been married to Hastings since 1991. Following the Jan. 24 filing, Hastings still owns more than 2.9 million Netflix shares worth $1.7 billion.<\/p>\n

The 63-year Hastings, a longtime education activist, and his wife are no strangers to high-profile donations. In 2020, the couple donated a combined $120 million to the United Negro College Fund, Spelman College and Morehouse College in Georgia. In 2022, Hastings and Quillin gave $10 million to Tougaloo College in Mississippi.<\/p>\n

Netflix has a market capitalization of more than $245 billion.<\/p>\n

Subscribe HERE to the FREE Media Play News Daily Newsletter!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Netflix co-founder and executive chairman Reed Hastings has disposed of 2 million shares, or 40% of his ownership stake, worth a current value of $1.1 billion, according to a regulatory filing. No explanation was given for the transaction, with media reports suggesting the move was a gift to an unknown beneficiary from the Hastings-Quillin Family … Continue reading “Reed Hastings Sells $1.1 Billion Worth of Netflix Stock”<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":236673,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29,166,215,3,25,28,653],"tags":[118,387],"coauthors":[65],"class_list":["post-236666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-financial","category-legal","category-news","category-people","category-streaming","category-top-news-story","tag-netflix","tag-reed-hastings"],"acf":[],"yoast_head":"\nReed Hastings Sells $1.1 Billion Worth of Netflix Stock - Media Play News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mediaplaynews.com\/reed-hastings-sells-1-1-billion-worth-of-netflix-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reed Hastings Sells $1.1 Billion Worth of Netflix Stock - Media Play News\" \/>\n<meta property=\"og:description\" content=\"Netflix co-founder and executive chairman Reed Hastings has disposed of 2 million shares, or 40% of his ownership stake, worth a current value of $1.1 billion, according to a regulatory filing. 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