Reed Hastings makes the Forbes richest list for the first time

Inside Netflix's plan to get the entire world watching
Inside Netflix's plan to get the entire world watching

Netflix CEO Reed Hastings made this year's Forbes 400 list of richest Americans. It's the first time Hastings has appeared on the exclusive list of billionaires.

The streaming service co-founder is worth $2.2 billion, which makes him just wealthy enough to join the ranks at the 359th spot.

The threshold this year starts at $2 billion, meaning ultra-rich individuals like Facebook's Sheryl Sandberg -- at $1.59 billion -- didn't make the cut.

Hastings inclusion on the list caps off a noteworthy few weeks. His company reported better-than-expected subscriber growth and revenue during its third quarter earnings on Monday. Netflix (NFLX)'s stock also cracked the $200 mark for the first time last week.

Netflix is raising its prices

Under Hastings, Netflix has surged. The stock has risen 60% since January and is expected to get even bigger next year. The company plans to spend $8 billion on new movies and shows in 2018, a $2 billion increase from this year. Netflix also increased the price of subscriptions.

Netflix to spend up to $8 billion on programming next year

Hastings is in good company on the list, too. He joins other tech titans including Microsoft (MSFT) founder Bill Gates, who ranks first, Amazon (AMZN) founder Jeff Bezos, who ranks second, and Facebook (FB) CEO Mark Zuckerberg, who's in fourth.

Snap (SNAP) Inc. CEO Evan Spiegel and co-founder Bobby Murphy landed on the list at 248th place -- the same position as President Donald Trump.

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