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Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of his holdings in the streaming giant, worth over $1.1 billion, to an undisclosed entity. It is unclear whether the gift was made to a charity or multiple charities. Hastings has previously made philanthropic donations, including $120 million to historically black colleges and universities. He still retains around 3 million Netflix shares worth approximately $1.7 billion. Hastings has also sold several tranches of options, generating around $2 billion. The reason behind the recent gift and its beneficiary remain undisclosed.

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