Reed Hastings took control of Powder Mountain with $100M in 2023; now he is spending $200M more

Hastings became the controlling owner of Powder Mountain in 2023 after investing $100 million (Image Credit: Powder Haven) What happens when a Netflix co-founder turns his attention from streaming to skiing? For Reed Hastings, it has meant taking control of one of Utah's largest ski areas and attempting to reshape how a mountain resort operates. Hastings became the controlling owner of Powder Mountain in 2023 after investing $100 million, and his plans have since gone well beyond a conventional ski-resort upgrade. The project combines public skiing with an exclusive private community, new lifts, luxury amenities and a major residential expansion, with major new investments now expanding both its public and private skiing operations.According to Mansion Global, Hastings paid $100 million in 2023 to acquire a controlling share of the Powder Mountain project from its previous owners, Summit Series. The development's first residential phase sold all 39 lots, and the second phase is now adding 34 larger homesites in a new neighbourhood called Prado, along with eight pre-built chalets.Why Hastings bought Powder MountainHastings' connection to Powder Mountain predates his ownership of the...