Netflix, Inc (NFLX) CEO Is $300M Richer Than Previous Year

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The CEO of Video Streaming company got a cut in the salary last year at $5.5 million in 2012 from $9.3 million in 2011. But it seems that there is hardly any effect on the wealth of Reed. The stock of Netflix, Inc. (NASDAQ:NFLX) has become much more valuable in the past 12 months. The value of the stake held by Hastings has increased by approximately $300 million in the past 12 months reports Allthingsd.

Netflix, Inc (NFLX) CEO Is $300M Richer Than Previous Year

Reed Hastings stake in Netflix, Inc. (NASDAQ:NFLX) has increased from 4.4 percent to 4.5 percent and at present is valued at $215 per share, which comes to around $559 million in total. The CEO of Netflix, Reed owned 4.4 percent share at $106 million per share last year totaling up at $265 million.

This is not all; Netflix, Inc. (NASDAQ:NFLX) has hiked Reed Hastings 2013 salary from $500,000 to $2 million. Reed will also get an optional allowance of $2 million, increased from $1.5 million.

Ever since Netflix, Inc. (NASDAQ:NFLX) was founded in 1997, the company has grown from an online DVD rental company to a globally recognized brand, which has a customer base of more than 30 million members in the USA, Canada, UK and other European countries.

The total subscribers in the United States account for 29.92 million. The company has at times been deep in red but has managed to come out of that and has done fairly well.

The streaming company reported positive first quarter result when it announced that the income for the first quarter of 2013 came in at $1.02 billion. The subscriber base at Netflix expanded up to 29 million for the United States and for other countries like Europe and Canada it increased to 7.1 million. The subscriber accesses the shows of Netflix at $8 per month for unlimited streaming plan. The exclusive TV shows like House of Cards are available on Netflix, Inc. (NASDAQ:NFLX), which gained the popularity after their launch.

The company knows that the growing number of subscribers is the blood life of the company, so has been working hard to attract the new customers and retain the others.

The stock price shot up approximately 25 percent and made a new 52 week high after the results were announced a few days back.

Like Hastings, another happy shareholder is Carl Icahn. Icahn purchased 9.9 percent stake in Netflix, Inc. (NASDAQ:NFLX) when it dipped last at $58 per share. At present, these shares are valued at whooping $1.2 billion. The value of Icahn’s Stake has increased approximately $900 million within a year.

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