Reed Hastings, executive chairman of Netflix, donated $7 million to a super PAC supporting VP Kamala Harris’ presidential election campaign — the largest single campaign contribution the streaming mogul has ever made, Variety has confirmed.
“After the depressing debate, we are in the game again,” Hastings told tech-business publication The Information, which first reported the news of his donation. A rep for Netflix declined to comment.
In the wake of Biden’s faltering performance in the June 27 debate, Hastings was among Hollywood figures to call for President Biden to exit the 2024 race so Democrats could defeat Donald Trump. This Monday, the Netflix exec posted posted on X, “Congrats to Kamala Harris — now it is time to win.”
Biden announced Sunday he was suspending his 2024 reelection campaign and endorsed Harris to run in his place. Harris’ campaign has raised more than $130 million since then.
Hastings cofounded Netflix in 1997. He stepped down as CEO after serving in the role for 25 years. Ted Sarandos and Greg Peters serve as co-CEOs of the streaming giant, and Hastings’ title is executive chairman.
Hastings currently has a net worth of $6.21 billion, most of which is tied to Netflix stock and options, according to the Bloomberg Billionaires Index.
In January of this year, Hastings donated 2 million shares of Netflix, currently worth nearly $1.3 billion, to the Silicon Valley Community Foundation. That represents Hastings’ biggest single charitable donation to date. The Silicon Valley Community Foundation says it works to “bridge critical gaps and divisions to deliver strategies that reduce systemic inequities” in the Bay Area.
Source Agencies
