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Netflix founder Reed Hastings becomes new member of exclusive ‘Billionaire’s Club’

by The Editor
March 7, 2018
in Tech
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Netflix founder Reed Hastings becomes new member of exclusive ‘Billionaire’s Club’
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Netflix founder Reed Hastings becomes new member of exclusive 'Billionaire's Club'
Net profits: Reed’s wealth has grown faster this year than Mark Zuckerberg or Jeff Bezos’ (Photo: ABACA/PA)

He’s the box set peddler who’s got the world hooked on shows like Stranger Things and The Crown.

Now the founder of Netflix is reaping the rewards of his company’s astonishing success by joining the exclusive ‘Billionaire’s Club’.

Reed Hastings, 57, has just been named as one of the 500 richest people in the world for the first time.

He’s been placed on the Bloomberg Billionaires Index after his wealth shot up by 50% this year to make him worth $4.1 billion.

The astonishing gain in his fortune is more than double the growth of Mark Zuckerberg or Jeff Bezos’ fortunes.

February 27, 2017 - Barcelona, Catalonia, Spain - REED HASTINGS, CEO and Founder of Netflix, during it's conference at Mobile World Congress 2017, world's biggest mobile fair in which brings together the leading mobile companies and where the latest developments in the sector are presented. (Credit Image: ?? Jordi Boixareu via ZUMA Wire)
You’d look pleased with yourself as well if you were worth more than $4 billion (Photo: Zuma Press)

He’s now about as rich as 14,746 average Brits, according to Credit Suisse’s claim that each British person has a wealth of $278,038.

Reed has already ploughed his money into philanthropy. In 2016, the big-hearted billionaire stumped up $100 million to start a children’s’ education fund charity called the Hastings Fund

Judging by Reed’s previous comments about the future of entertainment, a good way to follow in his footsteps might be to start selling something a bit stronger than box sets.

He said that people could take ‘entertainment drugs’ in the future, giving a whole new meaning to the phrase ‘Netflix and Chill’.

Netflix founder joins exclusive billionaire club after astonishing rise in wealth picture: Bloomberg METROGRAB SOURCE: https://www.moneyweb.co.za/news-fast-news/netflixs-hastings-steals-spotlight-with-top-wealth-gain-in-2018/
The astonishing rise of Reed Hasting’s fortune (Picture: Bloomberg)

‘In twenty or fifty years, taking a personalized blue pill, you just hallucinate in an entertaining way, and then a white pill brings you back to normality is perfectly viable,’ he said, according to Engadget.

‘If the source of human entertainment in thirty or forty years is pharmacological we’ll be in real trouble.’

Hastings trained as a US marine before founding Netflix in 1997.

MORE: 10 of the best films on Netflix

Original Article

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