Netflix CEO Reed Hastings On Verge Of Losing Billionaire Status After Share Price Plunge

ByJoseph Gibsonon April 22, 2022inArticles›Billionaire News

The once dominant streaming platform Netflix is beginning to show some cracks in its armor.

Netflix CEO Reed Hastings On Verge Of Losing Billionaire Status After Share Price Plunge - 1

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Hastings owns 5.2 million shares of Netflix.

Back in October of last year, during better days when its stock price was sitting at a 52-week high of $700 per share, Hastings’ Netflix stake was valued at…

$3.6 billion

Netflix stock actually began sinking before this week’s news.

At the beginning of April, Netflix stock was valued at around $400 a share. At $400 a share Hastings’ stake was worth a still formidable…

$2 billion

At $217 per share, Reed’s fortune has crept down to $1.1 billion.

You can see where this could be going. With just a few more points dropping from Netflix’s share price, Hastings will his billionaire status disappear almost as quickly as the time it takes to cancel a Netflix subscription.

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