Reed Hastings

Reed Hastings was born on October 8, 1960, in Boston, Massachusetts. After attending Bowdoin College, he earned a Master of Science in computer science from Stanford University. Early in his career, he worked briefly at Adaptive Technology before founding Pure Software in 1991, which developed tools for software developers. The company went public in 1995, merged with Atria Software in 1996, and was acquired by Rational Software in 1997, after which Hastings left as chief technical officer. Frustrated by a $40 late fee for the VHS tape of Apollo 13, Hastings conceived Netflix in 1997 with Marc Randolph, a former Pure Software colleague. They launched DVD-by-mail rentals in 1998, leveraging the new DVD format's mail-friendly size and an online ordering system. By late 1999, Netflix shifted to an unlimited monthly subscription model, allowing customers to rent up to three DVDs at a time via mail, which disrupted traditional video rental stores like Blockbuster. Under Hastings' leadership as CEO from 1998, Netflix pivoted to streaming in 2007, initially for computers, inspired by YouTube's rise. Key expansions included Xbox TV streaming in 2009–2010 and original content like House of Cards in 2013, marking its entry into production. This strategy grew Netflix to over 100 million subscribers by amassing 100,000 titles, fundamentally shifting media consumption and internet infrastructure demands. Hastings served as co-CEO with Ted Sarandos from 2020 to 2023 before becoming executive chairman. He has also been president of the California State Board of Education and advocates for charter schools, funding education reform and donating to historically black colleges. As of May 2025, his net worth is estimated at $6.6 billion by Forbes.