Netflix currently has two CEOs and the company just disclosed the salaries that the two men will be getting for 2021.
Reed Hastings has been the CEO of the company ever since he co-founded it in 1997 and Ted Sarandos became a co-CEO in 2020 after serving as the chief content officer for years.
Both of the execs’ paydays will be comprised of lots of stock options, though their amounts are much different.
Click inside to find out how much they will make in 2021… More Here! »
Netflix CEO Reed Hastings has pledged a huge donation to black education in the wake of the Black Lives Matter protests against systemic racism and police brutality following the killing of George Floyd.
Reed, 59, and wife Patty Quillin have pledged $120 million to the United Negro College Fund and two historically black colleges based in Atlanta: Spelman College and Morehouse College, NBC News reports.
Both colleges will receive $40 million each. The remaining $40 million will be donated to the United Negro College Fund — which will support student scholarships at historically black colleges and universities (HBCUs).
“The times are the most stressed, the most painful, that we’ve ever seen in our lives,” Reed shared. “But out of that pain can come some opportunity, too. And maybe this will be the moment things change.”
Reed explained that the donation is “the best gift we’ve ever given.”
“We wanted to do our part to draw attention, in this case, to the HBCU’s 150 years of resilience, of education young Black people and the stories not well understood in the white community,” Reed said.
Netflix also recently launched a curated Black Lives Matter category to show their support for the movement.
Netflix has a huge new audience, largely due to the ongoing global health crisis, which has millions staying at home.
The streaming service revealed that they’ve gained 15.8 million subscribers in the first quarter of 2020, THR reported on Tuesday (April 21).
The streamer now commands a global base of nearly 183 million.
The company also expected to only add 7 million subscribers during the first quarter, but the pandemic brought strong, unexpected growth.
CEO Reed Hastings said in a letter to shareholders that the company is seeing “temporarily higher viewing and increased membership growth” but “we expected viewing to decline and membership growth to decelerate as home confinement ends, which we hope is soon.”
They predict a 7.5 million subscriber growth in the second quarter of 2020, but it’s “mostly guesswork” given the ongoing situation.
CEO Reed Hastings also announced that he and his wife are helping out in the pandemic in a major way. Find out how.
Reed Hastings and Patty Quillin are helping out.
The Netflix CEO and his wife donated $30 million to the Gavi Alliance, a nonprofit immunization organization started by the Bill & Melinda Gates Foundation, Variety reported on Friday (April 17).
The company said it’s the first private-sector contribution toward its effort to raise at least $7.4 billion to immunize 300 million children over the next five years.
They are “helping to fund immunization programs in lower-income countries around the world” amid the pandemic, and “will help fast-track coronavirus vaccine development and — once it’s available — assist with manufacturing, procurement and delivery to areas that most need it.”
“Global immunization is vital to ending this terrible pandemic, and Gavi’s hard-fought gains in this area will help prevent more lost lives and livelihoods. We hope that our contribution will help those most in need, but also to inspire other businesses, entrepreneurs and organizations to join in this urgent effort,” Reed said in a statement.
Find out how other stars are helping with the global health crisis.
