Netflix's Reed Hastings Joins Forbes Billionaires List
'Minecraft' creator Markus Persson also is a newcomer on the list.
Reed Hastings can thank Netflix for much more than making a lazy Saturday night entertaining.
The CEO has joined Forbes Billionaires List for the first time this year, with the magazine valuing him at $1 billion.
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Hastings even took a pay cut last year, with his compensation falling from $3 million to $1 million. But that didn't matter much thanks to his generous stock offerings. He earns $13.7 million in stock options annually, which have paid off handsomely. Netflix shares rose 297 percent in 2013, and stock prices soared in January after earnings reports showed the company had added 4.33 million members worldwide in the final quarter of 2015.
Other newcomers include Minecraft creator Markus Persson, a Swedish programmer who recently purchased a $70 million Beverly Hills compound. He clocked in at $1.2 billion on the Forbes list.