co-founder Reed Hastings has donated 40 percent of his ownership stake in the streaming service - worth $1.1 billion - to a charity popular with tech billionaires for its tax breaks and privacy. Hastings made the donation to Silicon Valley Community Foundation after his Netflix stock surged following a strong earnings report. The charity is popular with tech billionaires as it grants them an immediate tax benefit but then allows them to advise on how they want the money to be spent over time, while keeping the causes private.
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