Netflix has made co-founder Reed Hastings richer by $1.4 bn in 2018

28 . May . 2018
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Netflix has managed to make its co-founder richer in 2018. Thanks to a 75% stock market rally so far in 2018, Netflix cofounder and CEO Reed Hastings’ net worth has increased by over $1.4 billion so far this year—to an estimated $3.7 billion.

In 2014, Netflix said it had 48 million subscribers in over 40 nations. It now boats 125 million subscribers in more than 190 countries. Between 2014 and 2017, annual revenues climbed from $5.5 billion to $11.7 billion.

As earlier reported, Netflix has entered into a multi-year agreement with Former President Barack Obama and Michelle Obama to produce films and series. The Obamas will produce a diverse mix of content, including the potential for scripted series, unscripted series, docu-series, documentaries and features.

These projects will be available to the 125 million member Netflix households in 190 countries. The Obamas have established Higher Ground Productions as the entity under which they will produce content for Netflix.