Netflix Billionaire Buys Stake in Utah Ski Resort

19th April 2023

Last modified on April 23rd, 2023

The co-founder and former CEO of Netflix, Reed Hastings, has purchased a stake in Powder Mountain. It is one of our favourite resorts in the USA.

Reed Hastings and his wife, Patty, are described as avid snowboarders.

“Patty and I love this mountain community and want to see it flourish,” said Reed Hastings.

“We’re looking forward to being a part of Powder Mountain’s future and to help safeguard what makes this place special.

“Also, we look forward to funding some lift upgrades, restaurants, and enhanced parking!”

He has an estimate wealth of $3.5 billion and will also be on the five-member board of the resort.

Hastings has acquired the stake from Elliott Bisnow and fellow Summit Series co-founders.

The terms of the deal have not been disclosed.

See here for further details in The Hollywood Reporter

Powder Mountain, Utah. Image © PlanetSKI

Powder Mountain is one of the largest resorts in North America with 9 lifts, 14 runs and 8,464 acres of skiable terrain.

“Powder Mountain, or Pow Mow as the locals call it, is a fabulous area and a million miles away from some of the other Utah resorts like Deer Valley,” said the PlanetSKI editor James Cove.

“It has a raw and authentic feel to it and I always try to visit when I am in Utah.

“It lives up to its name with fabulous snow and doesn’t have snow making facilities because it doesn’t need them.”

Powder Mountain, Utah. Image © PlanetSKI

Here’s James in the powder of Powder Mountain:

Locals have mixed reaction to the news with some welcoming the move.

Others fear the resort will change and may become more like the other resorts in Utah that are run on highly commercial lines.

PlanetSKI has visited Powder Mountain several times:

Penultimate day in Powder Mountain on US ski road trip

And below we reproduce the article on an earlier visit as our editor James Cove was at the start of the road trip back in 2017:

Next up Powder Mountain.

The approach to Powder Mountain is an experience in itself.

Powder Mountain, Utah

It is an upside-down resort – the road takes you to the top of the resort and then you ski down.

If I had been asked to name the biggest resorts in North America yesterday I would have said Whistler, Sun Peaks and Lake Louise in Canada plus Vail and Park City in the USA.

Today I have to add Powder Mountain.

Technically Powder Mountain is the biggest of them all with 8,400 skiable acres.

Whistler claims the biggest with 8,200 skiable acres.

It doesn’t seem to bother Powder Mountain.

“We are not really into claiming this, that and the other but, yeah, I suppose we are if you include our cat that takes people that little but further up and gives access to some of the best skiing in the resort,” said the marketing manager of the resort, Jean-Pierre Goulet.

Yours truly

The cat is one of the highlights of the resort.

I had heard of Powder Mountain but never skied here before and I was bowled over by the place.

It has something for everyone with some easy groomers to something more challenging for advanced skiers.

Powder Mountain, Utah

And best of all it is deserted. As I mention in the frst video it will only sell 2,000 tickets per day and that means you pretty much have the slopes to yourself.

Powder Mountain, Utah

“I grew up in Ogden and I have only ever skied in Snowbasin and Powder Mountain. Why would I want to go anywhere else?” said Jessica Bischoff, my guide round the resort for the day.

“Even if you are from the other side of the world the moment you get here you feel like a local.”

I could only agree.

100%.

Jessica – Powder Mountain, Utah

Like Snowbasin it has had huge amounts of snow.

This sign normally sits on top of the snow, but this year it had to be dug out.

Powder Mountain, Utah

The lifties say “have a nice day” and all the rest of it, but they do it with sincerity.

They have been doing it for a while.

Powder Mountain, Utah

The best adjective to describe it is one, sadly, I rarely use – “authentic”.

All the people here are real skiers and there are few frills.

“We are a community here and we want to preserve things the way they are,” Jean-Pierre Goulet said to me.

Lunch was at the Powder Keg.

Powder Mountain, Utah

I walked in with Iggy Pop being pumped out.

We continued through Devo, Blondie and a host of other tunes from my youth.

As I left it was The Clash – “Should I stay or should I go?”

It seemed apt as tomorrow this part of the ski road trip ends.

Alf is heading back to Europe and I am heading from Utah to neighbouring Colorado – Breckenridge, Keystone and A-Basin await before I then head north to Canada.

Should I stay or should I go?

I will be going but I would sure as hell like to stay.

I have been massively surprised by Ogden and its ski areas.