# 640 Million USD: What The Netflix Fiasco Cost Reed Hastings

October 28, 2011 5:43 pmWe had spotted some stats on Warren Buffet’s income some time back. We spotted this today:

“Netflix founder Reed Hastings owned 5.21%, or 2,815,982 shares, of Netflix stock as of April. Some of those shares are options, which he would have to exercise to sell.

If we do the math based on his ownership of the shares, his stake in the company was worth $858 million when the stock peaked in July at $304.79.

Today? Well, the picture is a little different. Netflix stock is down to $77.17, which means his stake is worth $217 million.

That brings his total loss in net worth to $641 million.”

Statistics Source: WSJ

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Poor Reed. How is he going to live?