In the year 2024, the remuneration packages for Netflix’s joint CEOs, Ted Sarandos and Greg Peters, increased significantly, surpassing the $60 million mark for each of them.
As a dedicated cinephile, I’m excitedly sharing the latest financial disclosures from Netflix. Last year, Reed Hastings pocketed an impressive $61.9 million (marking a 24% increase from his 2023 earnings). Not to be outshone, Ted Sarandos followed closely behind with a whopping $60.3 million (a staggering 50.2% rise)! These figures were disclosed in a proxy statement that Netflix released on Thursday, right as they were responding to analyst queries about their Q1 2025 earnings during a live-streamed interview.
For the past year, both Sarandos and Peters were handsomely rewarded. They each pocketed a cash bonus of $12 million, on top of their base salary of $3 million. Additionally, they received stock awards worth approximately $42.7 million. In addition to this, Sarandos was given option awards amounting to $2.3 million, while Peters received $2 million in the same.
Reed Hastings, the founder of Netflix, was paid 1.7 million dollars for serving as the executive chairman. As of Thursday, Hastings has moved into a role as a non-active chairperson on the board, no longer holding an executive position.
The remuneration for the role of Chief Financial Officer, Spencer Neumann, amounted to approximately $22.9 million. In contrast, the compensation for the position of Chief Legal Officer, David Hyman, was around $17.2 million.
More to come…
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2025-04-18 00:46