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Netflix Billionaire From Santa Cruz On 2020 Forbes List

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 | April 24, 2020

Originally Posted on Patch

The new coronavirus is affecting Americans from all walks of life. Even the richest people on Earth are not immune to the fallout caused by the disease, which is having a notable impact on the members of this year’s recently released Forbes World’s Billionaires List.

However, many of the same billionaires are using their positions to become agents of change by donating significant portions of their wealth and dedicating resources to help the United States battle the effects of the ongoing pandemic. They are donating to vaccine research, food relief, and other causes.

The stock market plunge brought on by coronavirus pared down the number of billionaires.

According to the 34th annual list, released last week, there are a total 64 billionaires who live in the greater Bay Area, mostly in San Francisco, on the Peninsula, and in the South Bay. Here in Santa Cruz, there is one entry:

  • Reed Hastings, cofounder and CEO of Netflix, revolutionized how the world is entertained, $4.6 billion, Santa Cruz

Hastings was lauded for his efforts in helping to lessen the sting of coronavirus. Forbes reports, “Netflix announced on March 20 that it had created a $100 million relief fund for out-of-work production professionals — including cast and crew — many of whom are paid hourly and on a project basis. the relief is not limited to workers on Netflix’s projects. The streaming giant has also committed to two weeks’ pay to all staff on productions that have been suspended.”

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