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Netflix Billionaire Buys North America’s Largest Ski Resort

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Powder Mountain, Utah, was bought by the co-founder of Netflix. Courtesy Ski Utah.

By Everett Potter

The latest news in the ski world is the marriage of a 21st-century tech billionaire and a troubled ski mountain. In one fell swoop, Reed Hastings, the co-founder of Netflix, has made a $100 million investment in Powder Mountain, Utah, the country’s largest resort. Hastings, who stepped down as CEO of Netflix in January and became a minority owner of Powder Mountain in April, ascended to majority owner of the resort with this investment on September 6.

Powder Mountain is the largest ski resort in North America by skiable acres. Located above Northern Utah’s Ogden Valley, the resort extends over 8,464 acres. It has 54 trails, nine lifts, and two terrain parks … continue reading

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  1. Kristen
    September 19, 2023 at 11:13 am — Reply

    How is Powder Mountain troubled?

    • Everett Potter
      September 19, 2023 at 1:39 pm — Reply

      The previous owners were from the tech world and promised an upscale resort, but their inexperience and financial troubles (a cash flow shortage within four years of buying the place) plus lawsuits and the challenges of building a resort at 9,000 feet sank them.
      The story has been widely reported in Fortune. That’s accessible only by subscription, but here’s an outtake on the troubles from Fortune via Yahoo.

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