Tech

Netflix CEO Reed Hastings is reportedly building a Colorado retreat for public schoolteachers

Key Points
  • Netflix CEO Reed Hastings is building a luxury teachers' retreat at the foothills of the Rocky Mountains in Colorado, according to a Recode report. 
  • The Retreat Land at Lone Rock is expected to operate as a training ground for public school teachers, according to the report.
  • Hastings has reportedly spent more than $20 million on the retreat.
Reed Hastings, co-founder and CEO of Netflix attends the inauguration of Netflix new offices in Paris, France, January 17, 2020.
Gonzalo Fuentes | Reuters

Netflix CEO Reed Hastings is building a luxury retreat for public schoolteachers in the foothills of the Rocky Mountains in Colorado, according to a Recode report

A former Peace Corps math teacher, Hastings has become one of the nation's largest donors to the education reform system. His latest venture, named the Retreat Land at Lone Rock, is expected to operate as a training ground for public school teachers, according to the report. 

Local officials expect the resort to open as early as March 2021, Recode reported. Hastings has spent more than $20 million on the retreat, according to the report. 

According to Forbes, Hastings has a net worth around $4.8 billion, thanks primarily to his 1.3% stake in Netflix -- the best-performing stock of the last decade. He's has given millions in funding to charter schools, and in 2016 started a $100 million philanthropic fund for kids' education.

Read the full report from Recode here.

Disclosure: CNBC parent NBCUniversal is an investor in Vox Media, which owns Recode.

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