Netflix co-founder Reed Hastings is new majority owner of Powder Mountain following $100 million investment

September 6, 2023

Just months after buying into a minority ownership position of Utah’s Powder Mountain Resort, Netflix co-founder and longtime CEO Reed Hastings has ascended to majority owner of the facility by way of a new $100 million investment announced Wednesday.

Back in April, Hastings bought a minority interest in the ski and recreation area after the Summit Group, which acquired the resort in 2012 for about $40 million, abandoned its original and expansive development plans, which it once touted could lead to $1 billion in investments. Deseret News