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Netflix's Reed Hastings collects $225 million in stock sale

Hastings has collected enough cash in 2020 to produce all four seasons of "The Crown"

Reed Hastings
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Reed Hastings

Simon Hunt | Bloomberg
Netflix Inc.’s Reed Hastings just pocketed $225 million from a stock sale, the latest in a series of such transactions the billionaire has made this year totaling $616 million.
 
Hastings has collected enough cash in 2020 to produce all four seasons of “The Crown,” all six seasons of “Peaky Blinders” or the equivalent of about 4.7 million annual Netflix subscriptions, based on average monthly subscription costs. The sales, the latest of which was Dec. 21, were made as part of a trading plan.

Hastings, the Los Gatos, California-based firm’s co-chief executive officer, has seen his wealth increase about $2.2 billion this

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First Published: Dec 23 2020 | 8:07 PM IST

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