Who owns Netflix? History, founders, facts, net worth (updated)

Questions about who owns Netflix have become incessant as the company is now one of the most profitable in the American entertainment atmosphere. The organisation has existed for about two decades and a half and has seen several evolutions in ownership, mode of operations, services rendered, and profitability.

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The business, now the biggest and most profitable streaming platform in the world, started with the idea and entertainment innovation of two business people and a handful of employees. Nowadays, its employee count is over 12,000.

Who created Netflix?

It was the brainchild of Reed Hastings and Marc Randolph. Reed was a scientist and mathematician vast in starting new businesses. He had already co-founded Pure Atria, which he later sold for $750 million to Rational Software Corporation.

On the other hand, Randolph had been in business with Hastings indirectly before their eventual collaboration with Netflix. He was also the co-founder of MicroWarehouse before Netflix.

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The two founding partners were reportedly intrigued by Amazon's business model of selling things over the internet. They brainstormed on portable items to sell online using the same model and initially considered renting and selling VHS.

Operational facts about Netflix

Netflix's online rental and selling DVDs website was the first of its kind in 1998. Their major rival at the time was Blockbuster LLC, which was mainly physical. Amazon once offered to acquire their business for around $16 million, and they declined.

In 1999, the business introduced the concept of customers subscribing monthly against its pay-per-rental model. It later changed to a fixed fee that allows customers to rent as many DVDs as possible without bothering about issues like late fees, due dates, and per-title rental fees.

The organisation was offered to Blockbuster LLC at an acquisition price of $50 million, which the latter's founder John Antioco rejected because "the dot-com hysteria is completely overblown."

Is Netflix a private or public company?

Netflix is now a public company listed on the Nasdaq Stock Market because it sells shares to multiple people who form part of the business's ownership hierarchy.

The organisation's metamorphosis into a public company began on 29th May 2002 when it sold about 5.5 million shares at $15 per share. By the end of 2003, Netflix posted a profit of $6.5 million, which became $49 million a year later.

The company has since moved away from renting DVDs to becoming an entertainment streaming platform while producing original movies and television shows. These changes have helped its profitability to skyrocket.

Which companies does Netflix own?

Netflix's parent company is Netflix Inc. It has made it a duty to buy businesses that may become competition and turn them into profit-generating machines.

Over the years, they have acquired some content IP, game studio, animation/VFX studio, and properties. Below is a list of some of the major acquisitions that the organisation has made:

  • Millarworld
  • The Roald Dahl Story Company
  • StoryBots
  • Animal Logic
  • Scanline VFX
  • Night School Studio LLC
  • Boss Fight
  • Next Games
  • Grauman’s Egyptian Theatre
  • Albuquerque Studios

Who is the current owner of Netflix?

The streaming platform is not owned by anyone in particular now. Instead, it has a slew of shareholders who have acquired various shares with the company. So, when discussing who owns Netflix now, individual and institutional shareholders are considered.

Institutional shareholders

Various institutions reportedly hold about 80 percent of the organisation's shares. The top three institutional investors are:

  • Capital Research Global Investors
  • Vanguard Group Inc.
  • BlackRock Inc.

Individual shareholders

The largest shares, as owned by individuals, are held by the company's current and former senior management personnel.

Which family owns Netflix?

The organisation is not private at the moment and is not under the control of a single person or family.

Who runs Netflix?

Nowadays, the overall day-to-day administration of the organisation is run by Reed Hastings and Ted Sarandos. They are in charge of the company's Los Gatos and Los Angeles divisions.

Net worth

According to Stock Analysis, Netflix is worth around $98.82 billion, making it the 88th largest public company in the US. One of the two founding partners, Reed Hastings, still the company's CEO, has a $1 billion net worth.

According to Celebrity Net Worth, the other founding partner, Marc Randolph, who stepped down from Netflix for the business's interest, is currently worth around $100 million.

Knowing who owns Netflix will mean understanding how the business came to be and the changes it has undergone to get to its current status. Nonetheless, the ownership status is not the same as it was when it began.

READ ALSO: Royalty family's net worth in 2022: Everything you need to know about their wealth

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According to Forbes, the monarchy and its assets are estimated to be worth about $28 billion.

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