Reed Hastings of Netflix Donates $7M to Kamala Harris’s Campaign

Reed Hastings, executive chairman of Netflix, has made a significant contribution to American politics by donating $7 million to a super PAC supporting Vice President Kamala Harris’ presidential campaign. This donation marks Hastings’ largest single campaign contribution to date, as confirmed by Variety.

Following a recent debate that was perceived as a setback for President Joe Biden, Hastings expressed renewed optimism. “After the depressing debate, we are in the game again,” he told The Information, a tech-business publication that first reported on his donation. Netflix declined to comment on the matter.

In response to Biden’s performance during the June 27 debate, Hastings joined other Hollywood figures in calling for President Biden to step aside from the 2024 race to enhance the Democratic Party’s chances of defeating Donald Trump. On Monday, Hastings congratulated Kamala Harris via a social media post, urging her to secure victory. “Congrats to Kamala Harris — now it is time to win,” he posted on X.

President Biden announced on Sunday that he would be suspending his 2024 reelection campaign and endorsed Harris to take his place as the Democratic candidate. Since his endorsement, Harris’ campaign has successfully raised more than $130 million.

Reed Hastings, who cofounded Netflix in 1997, recently stepped down after serving as CEO for 25 years. He now holds the title of executive chairman, with Ted Sarandos and Greg Peters serving as co-CEOs of the streaming giant.

With a net worth of $6.21 billion, primarily tied to Netflix stock and options, Hastings is among the wealthiest figures in the tech and entertainment industries, according to the Bloomberg Billionaires Index.

Earlier this year, Hastings made waves with his philanthropy by donating 2 million shares of Netflix, valued at nearly $1.3 billion, to the Silicon Valley Community Foundation. This stands as his largest single charitable donation to date. The foundation focuses on bridging critical gaps and divisions in the Bay Area to reduce systemic inequities.

Source: Variety