AP
Netflix CEO Reed Hastings.
- Netflix released its 2019 salaries for its top executives on Friday, and they're getting big raises.
- CEO Reed Hastings and content chief Ted Sarandos will each make $31.5 million in combined salary and stock options.
- Hastings' net worth was estimated to be $2.2 billion in 2017 when he landed on the Forbes 400 for the first time.
Netflix released its 2019 salaries for its top executives on Friday, and they're getting big raises as the streaming giant continues to grow at a rapid pace.
Netflix CEO Reed Hastings' salary will remain at $700,000, but his stock options will rise from $28.7 million this year to $30.8 million in 2019. Content chief Ted Sarandos will make $18 million in 2019, an increase from his $12 million salary in 2018. His stock options will be $13.5 million.
After combining their salaries and stock options, Hastings and Sarandos will both make $31.5 million in 2019. But Hastings' net worth is much more than his compensation in a given year. In 2017, Hastings landed on the Forbes 400 for the first time with an estimated net worth of $2.2 billion.
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Financial chief David Wells is set to make $3.5 million in 2019 with a $2.8 million stock option allocation, an increase from $2.8 million and $2.5 million in 2018, respectively.
Product chief Greg Peters is also getting a substantial raise in salary, from $6 million in 2018 to $10 million in 2019. His stock option allocation will rise from $6.6 million to $6.8 million.
And Netflix's general counsel and secretary, David Hyman, is expected to make $3.5 million in 2019, with a stock option allocation of $3.85 million.
Netflix shares rose 33% in 2018 as the company invested heavily in original content and landed exclusive production deals with the likes of the Obamas and Ryan Murphy, according to CNN Business.