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In a significant move, Netflix (NASDAQ:NFLX) co-founder, Reed Hastings, has pledged a record $7 million to a super PAC supporting Vice President Kamala Harris‘ presidential campaign.
What Happened: This marks Hastings’ largest-ever single candidate donation. Despite his initial hesitation to endorse Harris after President Joe Biden’s withdrawal, Hastings has now expressed his support for Harris’ 2024 run. This donation comes amid Harris’ campaign’s continued financial success, including a record-breaking $81 million in donations within the first 24 hours of her campaign, Business Insider reported on Tuesday.
See Also: Trump Wants Republicans Reimbursed After Biden Quits: ‘We Have To Start All Over Again’
Why It Matters: Hastings’ donation comes at a crucial time for Harris. Harris had secured enough delegates to lock in the Democratic Party’s nomination for the 2024 election. However, she was trailing Donald Trump in the polls after the Republican National Convention.
Hastings’ donation also underscores a broader trend of business leaders and billionaires, such as Alex Soros and Melinda French Gates, rallying behind Harris. This support is crucial as Harris navigates a competitive election landscape.
Moreover, Hastings’ move aligns with the sentiments of Netflix’s other co-founder, Marc Randolph. Recently, Randolph discussed the importance of leadership transition, drawing parallels with Biden’s decision to step aside.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
Posted In: NFLX
