Ted Sarandos is an American entrepreneur and current co-CEO of Netflix. He is also a father of two kids: Sarah Sarandos and Tony Sarandos.
Key facts about Netflix CEO, Ted Sarandos
He’s been in charge of Netflix’s all-content operation since 2000 and oversaw every move the company made in producing original content.
His approximate net worth as of 2023 is $350 million.
His wife, Nicole Avant, was appointed on October 22, 2009, as the 13th American Ambassador to The Bahamas.
Ted is a member of Spotify’s board of directors.
In 2012, Time Magazine named Ted among 100 most influential people worldwide.
Ted Sarandos- Biography
Ted Sarandos, real names Theodore Antony Sarandos, is the Netflix’s CEO. He has been serving as co-CEO with Reed Hastings since 2020. Ted has been the man behind all Netflix content operations since 2020. He also oversees the company’s move in producing original content with the premiere of programs in 2013, such as House of Cards, Orange is the New Black and Arrested Development.
Ted Sarandos Wiki/Bio
· Full Name: Theodore Antony Sarandos
· Famous Name: Ted Sarandos
· Sex: Male
· Date of Birth: July 30, 1964
· Age: 59 years old as of 2023
· Place of Birth: Phoenix, Arizona, United States
· Citizenship: American
· Ethnicity: White.
· Religious beliefs: Christianity.
· Sexuality: Straight.
· Height in feet: 5′ 8.9″.
· Height in centimeters: 175.
· Weight in extra pounds: 154.
· Weight in kgs: 70.
· Eye color: Dark Brown.
· Hair color: Dark Brown.
· Education: Glendale Community Collage
· Marital status: Married
· Children: 2 (Sarah Sarandos and Tony Sarandos)
· Partner: Nicole Avant
· Profession: Businessman
· Net worth: $350 million.
· Current Residence: Malibu, California
How old is Ted Sarandos?
As of 2023, Ted Sarandos is 59 years old. He was born on July 10, 1964.
Ted Sarandos Family & Education
Born July 30, 1964, in Phoenix, Arizona, Theodore Ted Antony Sarandos is the fourth child to an electrician father and stay-at-home mother whose names are hidden. He has three sisters and one younger brother.
Is Ted Sarandos Greek? Ted Sarandos’s paternal grandfather was from the Greek Island of Samos to the U.S. So; Ted Sarandos is of American-Greek origin.
He comes from an entertainment-obsessed family and watched numerous films and T.V. shows as a child. His parents were so into entertainment that they bought him a VHS player in high school, and that’s how he frequently visited the Arizona Video Cassettes.
While still schooling, Sarandos started working part-time at the Arizona Video Cassettes. He watched all videos to ensure he gave customers a good recommendation. He said, “Over time, what would happen is the store would be very busy, and people would be lined up to get in my line because they wanted me to make a suggestion for them.”
He eventually met with Ed Asner, and it was through Asner that he managed to meet and interview celebrities who were ready to entertain the world.
This fueled his interest in journalism, entertainment, and politics, considering his family background, who loved the entertainment. The father of two chose to further his studies by pursuing Journalism at Arizona State University.
However, he dropped out to manage the Arizona Video Cassettes store. While in Glendale, Arizona, Ted schooled at Glendale Community College.
Netflix’s co-CEO Ted Sarandos Admits “I Screwed Up” Amid Dave Chappelle Controversy
Even though Netflix has made significant by reporting strong quarterly earnings with 142 million households sampling their runaway hit squid game, the company has received internal and external backlash amid the Dave Chappelle controversy.
The situation aggravated after Netflix co-CEO Ted Sarandos sent it, and it leaked. In the email, Ted defended Chappelle and argued that films like The closer didn’t translate directly to real-world harm.
The comments were met with criticism by the Netflix transgender employees. During a brief interview with Deadline, Ted addressed the response about The Closer.
“First, right upfront, I screwed up the internal communication — and I don’t mean just mechanically. I feel I should’ve made sure to recognize that a group of our employees was hurting very badly from the decision made, and I should’ve recognized upfront before going into a rationalization of anything the pain they were going through. I say that because I respect them deeply, and I love the contribution they have at Netflix. They were hurting, and I should’ve recognized that first.”
Ted Sarandos Career Profile
Mr, Sarandos’ career began from 1983 to 1988, managing 8-retail video stores in Arizona Video Cassettes West Chain. He became Western Regional Director of Sales and Operation in 1988 for East Texas Distributors in the U.S.
Later, Sarandos joined Video City/ West Coast Video, which has around 500 store chains, as the Vice President of Product and Merchandising. His main responsibilities were negotiating revenue deals to assist the company in migrating from VHS to DVD format. This explains why he’s skilled enough as Netflix co-CEO.
When did Ted Sarandos Join Netflix?
Ted and Hastings met in 1999 when Netflix was a DVD-by-mail rental service. This was after his success story got the attention of Reed Hastings. While talking on special two-part episodes of L.A. stories, this is what he said.
“I did a deal with Warner Bros. and with Sony to do revenue sharing on DVD, which was an unheard-of thing at the time,” he said. “Reed saw the article and said, ‘Oh, this is what we need.'”
He then got an interview for the position of Chief Content Officer at Netflix. Ted Sarandos joined Netflix in 2000. According to the first chief talent officer of Netflix, Patty McCord, Ted lacked the technical knowledge that other applicants possessed but had outstanding knowledge in the film industry. It was easy for him to grasp Netflix’s business model.
He focused more on subscriber growth than ratings by using the Netflix algorithm to predict what interests viewers in different programs. This skill made him oversee the creation of original series like Stranger Things, Sacred Games, House of Cards, and more.
Ted Sarandos is also the former Chapter President and Board Member of the Video Software Dealers Association. In 2015, he became an executive committee appointee member of the Academy of Television Arts and Science.
Ted is also on the retail advisory board of the Digital Entertainment group that promotes home entertainment channels, products, and platforms supporting the movies. Plus, he is on the advisory board of the Los Angeles Film Festival, Tribeca Film Festival, and Los Angeles Greek Film Festival. Mr. Sarandos is a trustee of the International Documentary Association and director of Exploring The Arts.
His career profile is still growing. He believes his success is from his personal life, which contributed significantly by marrying Nicole Avant, the love of his life.
“I’ve drawn a lot of strength of people around me to get through it,” said Sarandos. However, his success didn’t come without hardships. He lost his father and mother-in-law, Jacqueline Avant, who died in a terrible home invasion.
Even with life hardships, he seems to be the luckiest man in Hollywood, and he is always excited doing his job every day.
“The gift of this job, this career that I’ve had, is I have literally met all my living heroes,” he said. “And that’s a pretty rare gift, I think. And I’ve not been disappointed by any of them.”
On September 13, 2016, Ted joined Spotify’s board of Directors. He is also a board member of American Cinematheque, the American Film Institute trustee, and a Henry Crown Fellow at Aspen Institute. He’s also serving as Netflix’s co-CEO of Netflix and Chief Content Officer. He’s been leading Netflix’s acquisition since 2000.
Is Ted Sarandos Netflix CEO?
Netflix announced Ted Sarandos as the co-CEO and member of the board of directors in 2020. Reed Hasting had previously mentioned Ted Sarandos as his partner on film and T.V. production.
In 2022, he was named Entertainment Person of the Year during Cannes Lions International Festival. He was recognized for his creativity in entertainment marketing & communications.
On January 19, 2023, Sarandos and Greg Peters became Netflix’s co-CEOs. This came after Reed Hastings stepped down as the CEO and remained the Chairman. In an interview with Bloomberg, Sarandos revealed how it was communicated to them.
“Typical of Reed, this is something that’s been on his mind for a long time, more than ten years. That’s why you saw, in a very informal way, him pulling myself and Greg into things that weren’t even necessarily in our bailiwick, and then formalizing it two and a half years ago with me co-CEO and Greg as COO, and then starting to delegate more and more of the day to day.”
Netflix’s Ted Sarandos Personal Life
Netflix chief content editor Sarandos is a married man. His first marriage was with Michelle Sarandos, and they share two kids, Sarah, and Tony Sarandos. The duo lived in Phoenix but moved to Los Angeles with his family. However, their marriage ended in divorce.
Who is Ted Sarandos married to? Ted is happily married to Nicole Avant. In 2009, he got into a second marriage with Nicole Avant- daughter of former executive Chairman of Motown, Clarence Avant, and Lawrence Bender, a producer. The same year, former USA president Barack Obama appointed Nicole as the U.S. Ambassador to the Bahamas.
The couple initially lived in Beverly Hills, California, Nicole’s hometown, but later relocated to Hancock Park, Los Angeles. The duo has made major investments, and in 2013, they bought a beachfront house worth $10.2 million from David Spade in Malibu.
In 2009, the duo held a fundraiser that raised over $700,000 for President Barack Obama’s campaign in Southern California. They supposedly planned Netflix’s multi-year deal with Obama, announced in 2018, making many platforms users threaten to boycott it for being political.
Ted Sarandos Net Worth 2023?
According to Filmysiyappa, the American businessman Ted Sarandos is estimated to have a net worth of $350 million. Mr. Sarandos has various income sources that heavily contribute to his net worth.
His primary source of earnings is his career as the Chief Executive Officer of Netflix. He has been making a basic salary of $20 million annually, but this is changing in 2023. We’ll discuss this in detail below.
How Much do the CEOs of Netflix Make? Netflix’s top executives bag millions of money per year. The two top executives, Reed Hastings, and Ted Sarandos make $40 million and $38 million each.
Mr. Sarandos has also invested in real estate property and is the largest shareholder with over $20 million in Netflix Stock Grants. He also gets bonuses from grants when the stock value of Netflix increases. Here is an overview of his stock trades on Netflix.
Netflix 2023 Pay Package for the CEOs of Netflix
The 2023 compensation packages for Netflix’s top executives have changed. Netflix has reintroduced bonuses that got suspended several years back. It has also reintroduced a new salary cap for Reed Hastings, Ted Sarandos, and Greg Peters. They even said the pay packages set by Netflix’s board compensation committee was in SEC filing.
In this new package, Ted Sarandos, the co-CEO and Chief Content Officer, is expected to get a $40 million payout which still matches the 2022 compensation plan. Reed Hastings, the Chairman and co-CEO, will receive the same compensation package of $650,000 and stock options worth $34 million.
How much does Ted Sarondos make? In 2023, Ted Sarandos’s basic salary will be $3 million from $20 million. He’s also eligible for a $17 million performance bonus and $20 million worth of stock options.
Greg Peters, Netflix’s COO, may receive up to $24 million. His package includes a $1.5 million basic salary, an estimated target bonus of $10.5 million, and $12 million in stock options.
According to Netflix, only Mr. Sarandos and Peters will get the compensation bonus. Hastings will not get the same. This is what Netflix said, “because his cash compensation is less than the $3 million salary cap.”
Here is what the SEC filing states;
1. “a minimum 50% allocation of the officer’s allocatable compensation to stock options”
2. “a salary cap of $3 million in the case of the co-CEOs and $1.5 million in the case of the COO”
3. “an annual performance-based cash bonus program”
Ted Sarandos Quotes
“I love, personally, the experience of going to the theater, going to the cinema.”
“To me, cinema is not a movie or a T.V. screen, and it’s not a seat in a building versus one in your living room. It’s the art of motion pictures.”
“I think that we’ve got a huge head start on things that are not easy to do: progressive streaming, to be able to stream in very high quality, even in an environment of highly variable bit rate, and to work on a big variety of devices seamlessly.”
“Being able to compete for consumers’ attention and dollars over the preciousness of access is a thing of the past. Everyone is using the Internet to globally market a product.”
“The current distribution model for movies, in the U.S. particularly, but also around the world, is pretty antiquated relative to the on-demand generation that we’re trying to serve.”