Zimbabwe's Richest Man Strive Masiyiwa Sells Off All Netflix Shares

Zimbabwes richest man no longer owns Netflix shares after offloading his remaining 290 shares for 387,596 on July 1.

Masiyiwas exit came the same day Netflix insiders, including Reed Hastings and CFO Spencer Neumann, also sold shares.

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Zimbabwes richest man Strive Masiyiwa no longer holds shares in Netflix after recently selling off more stock in the U.S. streaming giant. The move follows a wave of insider selling by several directors at the California-based company, signaling a broader trend among top stakeholders to unlock value from their holdings.

Masiyiwa, who joined Netflixs board of directors in December 2020 , sold 290 shares on July 1 at 1,336.54 each, bringing in 387,596. With this latest sale, the Zimbabwean billionaire no longer directly owns any common stock in the company, according to recent filings.

The sale happened on the same day Netflix co-founder Reed Hastings and Chief Financial Officer Spencer Neumann also offloaded shares . It follows another sale by Masiyiwa in May, when he sold 1,002 shares for about 1.1 million, part of a broader pattern that has seen him steadily reduce his Netflix stake over the past year.

In total, Masiyiwa has sold 4,105 Netflix shares over the past year and hasnt bought any new ones during that time. His decision to fully exit mirrors a broader shift among big investors, including hedge fund firms like John Overdeck and David Siegels Two Sigma Investments, which have also scaled back their positions in Netflix.

Though best known for his role in Africas telecoms sector, Masiyiwas presence on the Netflix board reflected his growing global influence in technology and media. Forbes estimates his net worth at 1.2 billion , making him Zimbabwes richest individual.