Don't worry, Netflix's Reed Hastings made more money than ever last year
While a string of baffling business decisions led to Netflix losing thousands of subscribers and more than 60 percent of its market value last year, hey, don’t worry: CEO Reed Hastings made a lot of money anyway, approximately 68 percent more than he did in 2010. According to the company’s just-filed proxy with the Securities And Exchange Commission, Hastings collected around $9.3 million for a year in which his company saw its biggest reversal of fortune to date—a significant increase from the $5.5 million he took home in 2010, when the biggest complaint anyone had about Netflix was that it was taking way too long to get a copy of Avatar. Much of Hastings’ big score, ironically, came from exercising his stock options, which netted him $8.8 million even as shareholders saw the value of their own holdings plummet.