Wilmot Reed Hastings Jr. is the Co-Founder, Chairman and Co-CEO of Netflix.
Better known as just Reed Hastings, he is an American billionaire businessman and is the co-founder, chairman, and co-chief executive officer or CEO of Netflix. Hastings also sits on a number of boards and non-profit organizations. Not only that, as a former member of the California State Board of Education, he is an advocate for education reform through charter schools.
How old is Wilmot Reed Hastings Jr.?
Wilmot Reed Hastings Jr. was born on October 8, 1960, he is currently 62 years old.
What did Reed Hastings study?
Reed Hastings studied mathematics at Bowdoin College in Brunswick, Maine, graduating with a bachelor’s degree in 1983.
How was Netflix formed?
In 1997, Hastings along with a former Pure Software employee, Marc Randolph, founded Netflix, with the sole purpose of offering a flat rate for movie rentals by mail to customers in the US. They used a combination of two emerging technologies, at the time, DVDs, which were much easier to send as mail than VHS-cassettes, and a website to order them from, instead of a paper catalog. Netflix now, headquartered in Los Gatos, California, has amassed a collection of 100,000 titles and more than 100 million subscribers.
Hastings had the idea for Netflix after he left Pure Software. Hastings mentions, “I had a big late fee for Apollo 13. It was six weeks late, and I owed the video store $40. I had misplaced the cassette. It was all my fault. I didn't want to tell my wife about it. And I said to myself, ‘I'm going to compromise the integrity of my marriage over a late fee?’ Later, on my way to the gym, I realized they had a much better business model. You could pay $30 or $40 a month and work out as little or as much as you wanted.” Hastings revealed that when he founded Netflix, he had no idea whether customers would use the service.
Hastings is a proponent of Internet television and sees it as the future. He credits YouTube for his shift in strategy for developing a video streaming service. Netflix launched a service in 2007 to stream movies and television shows to computers. Now, Netflix is one of the leading streaming platforms for movies and television shows worldwide.
When did Netflix form?
Netflix was formed in 1997 which makes the company 25 years old.
What is Wilmot Reed Hastings Jr.’s net worth?
Wilmot Reed Hastings Jr.’s net worth is estimated to be $2.7 billion.
FAQs
Q. Who is the CEO of Netflix?
A. Wilmot Reed Hastings Jr. is the Co-Founder, Chairman and Co-CEO of Netflix.
Q. When did Netflix form?
A. Netflix formed in 1997.
Q. How old is Wilmot Reed Hastings Jr?
A. Wilmot Reed Hastings Jr. was born on October 8, 1960, he is currently 62 years old.
Q. How much is the CEO of Netflix worth?
A. Wilmot Reed Hastings Jr. is worth $2.7 billion.
