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Reed Hastings Grants $1.1 Billion Worth of Netflix Stock to the Silicon Valley Community Foundation
Reed Hastings has given 2 million shares of Netflix -- worth about $1.1 billion -- to the Silicon Valley Community Foundation.
Reed Hastings, Netflix co-founder and executive chairman, has given 2 million shares of the streaming company — currently worth about $1.1 billion — to the . The transaction code on the statement of change in beneficial ownership was marked “G,” indicating a “bona fide gift,” per the SEC. Hastings and Quillin also donated $10 million to Tougaloo College, an HBCU in Mississippi, and the couple have supported the KIPP Foundation, which runs a national network of tuition-free charter schools serving low-income communities of color.
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