"In business, you never fail instead you get to experience and learn something new every time."
This statement is what best describes the CEO of Netflix, Reed Hastings, the world’s strongest billionaire.
He is the man that changed the entire scenario of watching movies and series. He thought of inaugurating Netflix after he was fined to charge $40 as a rental fee for Blockbuster. He founded this epic business in 1997 and he banged on as the CEO.
For his tremendous and beyond belief performance, he was listed in Forbes Magazine as Forbes 400 2019, Innovative Leaders 2019, Billionaires 2019, Powerful People 2018 and Global Game Changer 2016 respectively.
As the CEO of Netflix, his salary is estimated to be $6 million. Likewise, he owns 2,631,039 shares of his own company, Netflix, or 1.3% of Netflix.
During its initial phase, the application had about 4.5 million subscribers. By 2010, it had 16 million subscribers. As of now, the app provides services to 139 million members globally.
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Besides Netflix, his source of income is his business with Microsoft. Also, he is the board of directors for Facebook.
Overall, Reed's total net worth is estimated to be $4 billion.
Wife And Kids
With no surprise, Reed Hastings is happily married to his wife Patricia Ann Quillin.
He married her in 1991. She has been constant support from his startup to date.
Reed Hastings with his wife Patricia Ann Quillin (Photo:elespanol.com)
Not only is Reed a supportive husband but is also a proud father to two kids; a daughter and son. His daughter is Molly Hastings, who is very passionate about music for which she even has her school music group known as Beverly Tender. She plays an electric guitar and is a vocalist as well.
Wiki, Age, And Family Background
Born as Wilmot Reed Hastings in 1960, he celebrates his birthday on 8th October. He grew up in Boston.
He is the only son to his parents Joan Amory and Wilmot Reed Hastings Sr. His father was an attorney for the U.S. Department of Health, Education, and Welfare. Reed is the grandson of Alfred lee Loomis who was an attorney, financier, scientist and executive producer.
Education And Career
Reed attended Buckingham Browne And Nichols in Cambridge, Massachusetts. Then he joined Bowdoin College by taking Mathematics as a major subject. In 1981, he also served in the Marine Corps Officer training through their Platoon Leader Class.
After that, he graduated in 1983 and gained his Master’s degree in Computer Science from Stanford University in 1988.
Soon after graduation, Reed commenced working as a software developer for Adaptive technology; under Audrey MacLean. From this company, he learned the value of focus and he worked for this company till 1991.
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Eventually, he formed his first company Pure Software in October 1991. As he went on operating the company, he realized it was harder to work solo: so he merged with Atria to from Pure Atria Corporation in 1996. But, some issues came up and this company was acquired by Rational Software.
Nevertheless, Reed accepted $750 million for the acquisition from his previous company. Then, he collaborated with Marc Randolph and founded Netflix in 1997 but, Marc parted ways from the facility in 2002.
Interesting Facts About Him:
- His age is 59, as of 2019.
- Reed founded Hastings Fund and committed $100 million to children's education.
- He is raising two Nigerian Dwarf goats.