Netflix CEO Reed Hastings saw his pay jump almost 40% to $23.2 million in 2016, but that's tiny compared to his net worth

pulse

April 24, 2017 11:31 PM

Netflix CEO Reed Hastings made $23.2 million in total compensation for 2016, up almost 40%, according to an SEC filing Monday.

Netflix CEO Reed Hastings made $23.2 million in total compensation for 2016, up almost 40%, according to an SEC filing Monday. That's also an increase over his total compensation in 2015, which was $16.6 million.

Hastings' 2016 base salary was $900,000, while his stock options added up to $22.3 million. But this is a drop in the bucket next to Hastings' net worth, estimated at $1.7 billion by Forbes.

Ted Sarandos, Netflix's head of content, made $18.9 million, including a $4 million bonus. Sarandos' estimated 2017 target bonus is $9 million.

Netflix's chief of product, Neil Hunt, has an estimated $5.2 million target bonus for 2017, though he is leaving the company in July after almost two decades. His total compensation for 2016 was $8.8 million.

On Monday Netflix also announced that it was taking on another ~$1.08 billion in debt ($1 billion euros). This is par for the course for Netflix, which raised a similar $1 billion in debt in October, primarily to fund its ongoing push into original shows.

Netflix's negative free cash flow will be $2 billion in 2017, and will "accompany our rapid growth for many years," as the company moves further into the production of original shows and movies. Netflix will spend $6 billion on content in 2017.

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