Netflix co-founder and co-CEO Reed Hastings is doling out $3 million to help Democratic California Gov. Gavin Newsom survive his recall, Politico reported Thursday.
The $3 million donation makes the tech billionaire Newsom’s largest political donor to date in his upcoming recall, Politico’s report claimed.
WHOA! Netflix CEO @reedhastings gives @GavinNewsom recall defense a cool $3 million
— Jeremy B. White (@JeremyBWhite) May 20, 2021
Hastings — who is worth about $5 billion — can make such a large campaign contribution because California election law stipulates that a governor facing recall can raise unlimited amounts of money, according to Politico. Meanwhile, Newsom’s challengers are hamstrung by campaign contribution limits of $32,400 per election in their direct accounts. This is because the recall is treated not as a candidate-based election, but rather a ballot issue, Politico noted.
Hastings’ donation serves as an example of how much money Newsom could raise from Democratic allies throughout the Golden State, particularly in northern California’s Bay Area and Silicon Valley. A number of prominent members of the state’s tech industry have already signed a letter opposing Newsom’s recall and pledging their support, Politico reported. (RELATED: Gov Gavin Newsom Suggests Big Tech Should Pay People Cash For Monetizing Personal Data)
Flashback to @reedhastings telling @GavinNewsom he would’ve spent more of his millions on his Democratic rival but went easy, via @NewYorker https://t.co/8JmvVfxdMZ pic.twitter.com/ENjaSrGBfI
— Jeremy B. White (@JeremyBWhite) May 20, 2021
Stewart and Lynda Resnick of agriculture giant The Wonderful Company, as well as San Francisco 49ers CEO Jed York, have also made six-figure contributions to Newsom’s efforts, Politico reported.
Beyond large individual contributions, the Democratic Governors Association pitched in $500,000 for Newsom last week. Newsom has raised another $400,000 alone from California’s nurses union, and he has fielded donations from other large unions and firms as well, Politico reported.