After racking up $40 in late fees at a traditional video rental store, Reed Hastings co-founded Netflix and made $5 billion in the process.
Before founding Netflix, Hastings spent one year teaching in Swaziland with the Peace Corps and another as a door-to-door vacuum salesman.
Hastings’ philanthropic efforts are focused on education, including a $120 million donation to fund scholarships for Black college students and building a 2,100-acre luxury training camp for teachers in Colorado.
Visit Business Insider’s homepage for more stories.The $40 late fee Reed Hastings paid after temporarily losing a rented video in 1997 may have been the best money he ever spent.
That fee gave him the idea for Netflix, the entertainment giant he cofounded and leads as chief executive. Hastings has since built a $5 billion fortune that he has spent to support educational reform and bolster the campaigns of Democrats running for office.
— Read on www.businessinsider.com/netflix-billionaire-reed-hastings-net-worth-career-home-fortune-2020-8
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