Reed Hastings net worth

Reed Hastings net worth

Net Worth: $940 Million

About Reed Hastings

Reed Hastings net worth

Reed Hastings is a well known entrepreneur. Moreover, he is also known as a philanthropist, who usually donates to educational institutions. It has been announced that the total sum of Reed Hastings net worth reaches a sum of 940 million dollars. In addition, his annual payment is known to reach 6 million dollars. Reed Hastings is known to be the current CEO of Netflix, which is one of the most important sources of Reed Hastings net worth today.

In addition to that, he is also known to have been serving on boards of various companies and organizations, such as Facebook. He is also involved with a lot of non-profit organizations.
Reed Hastings first work was a job at Adaptive Technology. It was this place where he designed a tool for debugging software.

In 1991, however, he decided to stop working for the Adaptive Technology. He did so, because he decided to establish his own company, which he titled Pure Software. This company also began to bring first bigger sums of money to the total amount of Reed Hastings net worth. The company’s aim was to provide products in order to troubleshoot software.

The company grew bigger and bigger year after year and this made it more difficult for Reed Hastings because he did not have enough experience in managing a company. He later admitted that when Pure Software started to hire more and more people and the number of them was growing rapidly, he realized that he did not have any managerial or organizational abilities.

Soon, he also realized that he was not experienced enough to be the CEO of the company and he asked the board of it to choose another member to get this place instead of him. However, the board did not accept this offer and with time Reed Hastings got more experience to serve as the CEO and this position finally began to pay off and add huge sums of money to Reed Hastings net worth.
In 1996, it was stated that Pure Software was merging with another similar company, that being Atria Software. The Pure Software was working in detecting bugs in software systems, whereas the Atria Software’s aim was to manage the development of a complicated software system. This merger proved to be a success, as well. However, the Wall Street Journal claimed that in the beginning there were quite a few problems with the merger because of the leaving of the head salesman of the merger.

Now you have an idea why Reed Hastings net worth is this huge

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