Reed Hastings Denies Abandonment of Matt Mahan

Reed Hastings, co-founder of Netflix, has strongly refuted allegations that he has distanced himself from Matt Mahan following the abrupt return of a $1 million donation to a pro-Mahan super PAC.

“I’m voting for Matt Mahan. I’m not asking for a refund, and they shouldn’t have refunded it either. Matt, let’s go,” Hastings stated on X, addressing the swirling rumors about the unexpected financial turnaround.

This clarification followed reports from campaign finance disclosures that Hastings contributed $1 million on May 15 to the independent committee “Return to California Basics in Support of Governor Matt Mahan 2026,” only to see it refunded five days later.

The refund prompted speculation that one of California’s key Democratic donors was withdrawing support from Mahan’s challenging gubernatorial campaign ahead of the June 2 primary.

Entering a crowded race earlier this year, Mahan aimed to position himself as a moderate, tech-friendly Democrat appealing to business leaders and centrist voters. However, despite backing from Silicon Valley elites, he has struggled to make a mark in public opinion polls and prediction markets.

Some insiders, close to the pro-Mahan movement, indicated that the refunded donation was part of a larger fundraising effort that ultimately fell short, necessitating the return of Hastings’ contribution.

Another committee backing Mahan, known as Delivery for California, reportedly has ceased operations entirely. Political analysts noted the returned funds as a significant red flag for campaigns, particularly for affluent donors and tech executives who are beginning to align with alternative candidates.

According to a consultant with insights into statewide Democratic politics, Mahan’s campaign faces financial difficulties at a crucial moment when voters are starting to pay closer attention to the race.

Hastings, meanwhile, remains a formidable political donor in California, having invested millions in democracy initiatives, charter schools, and housing causes over the years. He is also a vocal supporter of Governor Gavin Newsom, frequently endorsing him as a potential Democratic presidential contender in 2028.