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Reed Hastings Donates $1.1 Billion of Netflix Shares

The Silicon Valley Community Foundation disbursed nearly 15,000 grants totaling $2.57 billion in 2022.

By Inc.Arabia Staff
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Reed Hastings, executive chairman and co-founder of streaming TV giant Netflix Inc., has donated $1.1 billion worth of Netflix shares to the Silicon Valley Community Foundation. The contribution, outlined in a regulatory filing, involves a gift of 2 million shares.[1]

The foundation supports various causes, including affordable housing, early childhood development, disaster relief, and more.

The Silicon Valley Community Foundation, established in 2007, has been a focal point for charitable giving from influential figures within the Northern California technology community. In 2012, Facebook co-founder Mark Zuckerberg and his wife, Priscilla Chan, contributed $500 million worth of company stock to the foundation.

Reed Hastings, aged 63, has a history of philanthropy, particularly in the realm of education. In 2020, Hastings and his wife, Patty Quillin, pledged $120 million to support historically Black universities.

The Silicon Valley Community Foundation disbursed nearly 15,000 grants totaling $2.57 billion in 2022, according to information available on its website.

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