Netflix’s Market Value Drops $26 Billion In A Week; Founder’s Net Worth Falls In Tandem
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Founder Reed Hastings’ net worth is down more than $800 million.
A week after releasing a bleak second-quarter earnings report, the company’s shares are down nearly 20%, a loss of $26 billion in market value. The net worth of founder Reed Hastings, who owns about 2.5% of Netflix’ shares, fell $850 million over that period, to $3.4 billion.
Netflix has chilled.
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