Netflix co-founder and former CEO Reed Hastings is donating two million shares of the streaming service to the California-based Silicon Valley Community Foundation. Given the current price of Netflix shares, the package is worth approximately $1.1 billion.
The SVCF has received large donations in the past from tech giants such as Mark Zuckerberg and Jan Koum, one of the founders of WhatsApp. Reed Hastings has long been known in the USA as a recurring major donor. In 2020, he and his wife Patty Quillin donated $120 million to a college fund.