Netflix s Co-CEOs Salaries for 2021 Revealed. And They re Insanely Large
Netflix currently has two CEOs and the company just disclosed the salaries that the two men will be getting for 2021.
Reed Hastings has been the CEO of the company ever since he co-founded it in 1997 and
Ted Sarandos became a co-CEO in 2020 after serving as the chief content officer for years.
Both of the execs’ paydays will be comprised of lots of stock options, though their amounts are much different.
Click inside to find out how much they will make in 2021…
THR reports that both
Hastings and
Sarandos will earn $34,650,000 each next year, which remains unchanged from their 2020 salaries.
Netflix CEOs Reed Hastings and Ted Sarandos to Receive No Pay Raise for 2021
But don’t worry, they’re still taking home nearly $35 million eachSean Burch | December 28, 2020 @ 1:41 PM Last Updated: December 28, 2020 @ 1:52 PM
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Despite a strong 2020 in terms of subscriber growth, Netflix co-CEOs Reed Hastings and Ted Sarandos won’t see their pay increase in 2021, according to a filing with the Securities and Excahange Commission on Monday. Don’t worry, though, they’re still doing pretty well.
Between their salaries and stock options, Hastings and Sarandos will both earn $34.65 million in 2021 putting them on par with their 2020 pay, which was a 10% boost from the year prior. Hastings will take home a $650,000 salary to go along with $34,000,000 in stock options, while Sarandos will earn a $20,000,000 salary and receive $14,650,000 in stock options.
Surprising news dropped in early December when
Activision Blizzard (NASDAQ:ATVI) announced a lawsuit against
Netflix (NASDAQ:NFLX) for allegedly poaching its chief financial officer. The suit claims that Netflix intentionally breached Spencer Neumann s contract by hiring him in January of 2019, a violation of California law. Here is what investors need to know about the situation.
Lawsuit details
Activision is accusing Netflix of violating California labor laws by hiring Neumann before his contract ended with Activision in 2020. The lawsuit states that Netflix knowingly induced the CFO to breach his contract, which it claims intentionally violated the California Labor Code.
At first glance, this seems like Activision is just upset about losing one of its top executives to a competitor. Doesn t this happen all the time in the corporate world? Sure, but in this case, Activision may have a point.
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