{"id":570664,"date":"2023-04-18T03:37:19","date_gmt":"2023-04-18T00:37:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/netflixs-reed-hastings-buys-stake-in-ski-resort\/"},"modified":"2023-04-18T03:37:19","modified_gmt":"2023-04-18T00:37:19","slug":"netflixs-reed-hastings-buys-stake-in-ski-resort","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/netflixs-reed-hastings-buys-stake-in-ski-resort\/","title":{"rendered":"#Netflix\u2019s Reed Hastings Buys Stake In Ski Resort"},"content":{"rendered":"
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\n Three months after revealing that he\u2019s stepping back from his day-to-day co-CEO role at Netflix to become executive chairman at the streaming giant, Reed Hastings is investing more in leisure. Specifically, he bought a stake in a ski resort. <\/p>\n

\n The mogul purchased an ownership stake in Utah\u2019s Powder Mountain, an 8,464-acre property with 154 ski trails, the resort said on Monday, describing the exec and his wife as \u201cavid\u201d snowboarders. Hastings acquired the stake from Elliott Bisnow\u00a0and fellow Summit Series<\/a> co-founders. Terms of the deal weren\u2019t disclosed. <\/p>\n

\n Hastings stated that his wife \u201cPatty and I love this mountain community and want to see it flourish. We\u2019re looking forward to being a part of Powder Mountain\u2019s future and to help safeguard what makes this place special. Also, we look forward to funding some lift upgrades, restaurants, and enhanced parking!\u201d The Netflix exec will also get a seat on the five-member board of the resort. <\/p>\n

\n The majority owner of the ski resort remains financier Greg Mauro, founder of the Learn Capital,\u00a0who bought Powder Mountain in 2013 in what was announced at the time as a $40 million deal. The ski resort sits about an hour outside of the state\u2019s capital, Salt Lake City. <\/p>\n

\n Hastings\u2019 received a $34.65 million\u00a0pay package from Netflix in 2022 and will earn a similar figure for 2023, the company disclosed in a securities filing in December. Early this year, he announced that he was transitioning from his role as co-CEO alongside Ted Sarandos to become executive chairman and elevated COO Greg Peters to be the new co-CEO. <\/p>\n

\n \u201cI\u2019ll be helping Greg and Ted, and, like any good Chairman, be a bridge from the board to our co-CEOs,\u201d Hastings wrote in a Jan. 19 statement. \u201cI\u2019ll also be spending more time on philanthropy, and remain very focused on Netflix stock doing well.\u201d<\/p>\n

\n The exec\u2019s deal for a Powder Mountain stake was unveiled a day before Netflix discloses its first-quarter earnings after market close. Following a dramatic dive in 2022, the streaming giant\u2019s stock is up 12 percent year-to-date to $332.72 a share as of April 17.<\/p>\n<\/p><\/div>\n