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Silicon Valley Community Foundation

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business2 years ago•0 min saved

"Netflix Co-Founder Donates $1.1 Billion in Stock to Silicon Valley Nonprofit"

Netflix founder Reed Hastings has gifted over $1.1 billion worth of Netflix stock to the Silicon Valley Community Foundation, constituting about 40% of his Netflix stock. This move comes as the stock closed at $575.08. Hastings, with a net worth of $6.6 billion, has previously donated to educational institutions and has stepped down as co-CEO of Netflix. The Silicon Valley Community Foundation is the largest charitable foundation in Silicon Valley and has not yet commented on the donation.

via Deadline|

#business #donation #netflix

philanthropy2 years ago•1 min saved

"Netflix CEO Donates $1.1 Billion in Stock to Silicon Valley Foundation"

Reed Hastings, Netflix co-founder and executive chairman, has gifted 2 million shares of Netflix stock, valued at about $1.1 billion, to the Silicon Valley Community Foundation, as part of his ongoing philanthropic efforts. This substantial donation adds to Hastings' history of supporting educational initiatives and historically Black colleges and universities, reflecting his commitment to addressing systemic inequities and supporting underprivileged communities.

via Variety|

#charitable-donation #netflix #philanthropy