Who is Netflix co-founder? Fascinating facts about tech billionaire Reed Hastings

Reed Hastings, the visionary co-founder and Executive Chairman of Netflix, is widely celebrated for reshaping global entertainment.

Under his leadership, Netflix evolved from a DVD rental-by-mail service into the world’s leading streaming platform, fundamentally changing how audiences consume content.

Reed Hastings’ net worth

As of 2025, Hastings boasts a net worth of $6.5 billion, according to Forbes’ Real-Time Billionaires list.

Though he stepped down as Netflix co-CEO in 2023, he continues to guide the company as Executive Chairman, ensuring its innovative culture remains intact.

Here are a few mind-blowing facts about Hastings that you have never heard before.

Early life and education

Born on October 8, 1960, in Boston, Massachusetts, Hastings pursued a mathematics degree at Bowdoin College.

High school math teacher

Afterward, instead of jumping directly into the corporate world, he joined the Peace Corps, spending two years teaching high school math in Swaziland (now Eswatini).

Studied at Stanford

He earned a master’s in computer science from Stanford University in 1988, laying the foundation for his tech career.

From Pure Software to Netflix

Before Netflix, Hastings founded Pure Software in 1991, a company specialising in debugging tools. It went public and eventually merged with another firm.

In 1997, shortly after selling Pure Software, he co-founded Netflix, inspired by a hefty late fee on a VHS rental that sparked the idea of a subscription model.

It is worth noting that Netflix went public in 2002 and launched streaming in 2007, redefining entertainment forever.

Philanthropy

Hastings is deeply committed to education reform. In 2020, he and his wife, Patty, donated $120 million to historically Black colleges and the United Negro College Fund.

Their lifetime giving has now surpassed $2 billion, cementing their reputation as one of Silicon Valley’s most generous philanthropists.

A Political voice

Hastings has also been outspoken in politics. In 2024, he publicly urged former US President Joe Biden to withdraw from the race and later backed Kamala Harris, contributing millions to her campaign through the Republican Accountability PAC, his single largest political donation to date.

Hastings’ other roles

Beyond Netflix, Hastings has held board positions at Microsoft and Facebook, reflecting his influence across the tech sector.

His unique leadership style, highlighted in his book "No Rules Rules," showcases how Netflix’s culture of freedom and responsibility became central to its success.