Netflix's executive chairman, Reed Hastings, has made his largest single campaign donation to date, contributing $7 million to a super PAC supporting Vice President Kamala Harris's presidential campaign, as confirmed by Variety.
In an interview with The Information, Hastings expressed optimism following the disappointing debate performance by President Joe Biden. "After the depressing debate, we are in the game again," he said. Netflix representatives declined to comment on the matter. Following Biden's poor performance in the June 27 debate, Hastings was among those urging the president to step aside to bolster the Democrats' chances against Donald Trump.
Hastings took to X (formerly Twitter) on July 22 to congratulate Harris. "Congrats to Kamala Harris — now it is time to win," he tweeted.
On July 21, Biden announced the suspension of his 2024 reelection campaign and endorsed Harris as his successor. Since then, Harris's campaign has raised over $130 million.
Reed Hastings co-founded Netflix in 1997 and served as its CEO for 25 years before stepping down. Ted Sarandos and Greg Peters are now the co-CEOs, while Hastings remains the executive chairman. According to the Bloomberg Billionaires Index, Hastings has a net worth of $4.58 billion, primarily from his Netflix stock and options. Earlier this year, he donated 2 million Netflix shares, worth about $1.3 billion, to the Silicon Valley Community Foundation, his largest charitable contribution so far.
The Silicon Valley Community Foundation aims to "bridge critical gaps and divisions to deliver strategies that reduce systemic inequities" in the Bay Area. Following the news of Hastings' $7 million donation to Harris's campaign, social media saw a wave of backlash, with many users canceling their Netflix subscriptions in protest.
One user wrote on X, "And that's why 'canceled' is trending....millions of Americans canceling their accounts, which is what I will be doing as well." Another commented, "Cancelled. Thanks for making it an easy decision. #CancelNetflix."
A third user shared, "I canceled my Netflix today because of it," while another remarked, "Time to cancel my subscription. She is a vacant, Marxist husk." One person stated, "Disgusting. He should be ashamed to support that vile woman," referring to Harris. The sentiment was echoed by others simply stating, "Membership canceled."
Hastings' substantial financial support for Harris marks a significant moment in the 2024 presidential race, showcasing the influential role of major donors in political campaigns. The reaction on social media underscores the contentious and polarized nature of current political discourse.
