Reed Hastings, the co-founder of Netflix, has strongly refuted allegations that he withdrew support for Matt Mahan following the unexpected return of a $1 million donation to a super PAC backing Mahan.
In a post on X, Hastings stated, “I’m voting for Matt Mahan. I didn’t ask for any refund and they shouldn’t have done it. Go Matt,” addressing the growing speculation regarding the unusual financial move.
The controversy arose after campaign finance records revealed that Hastings contributed $1 million on May 15 to “California Back to Basics Supporting Matt Mahan for Governor 2026,” an independent expenditure committee. However, the funds were returned just five days later, prompting questions about Hastings’ commitment.
The swift refund ignited rumors that Hastings, a prominent Democratic donor in California, was distancing himself from Mahan’s gubernatorial campaign, which is facing challenges ahead of the June 2 primary election.
Mahan, the mayor of San Jose, joined the competitive race earlier this year, positioning himself as a moderate, business-friendly Democrat with a tech-savvy approach aimed at attracting business leaders and centrist voters.
Despite backing from notable figures in Silicon Valley, Mahan has struggled to make significant inroads in both polls and prediction markets.
Sources close to the pro-Mahan operation previously told The California Post the refunded money was tied to a broader fundraising push that ultimately fell apart, leading organizers to return Hastings’ contribution.
Another committee supporting Mahan, Deliver for California, has reportedly ceased operations entirely.
Political observers had interpreted the returned donation as a major warning sign for the campaign, especially as wealthy donors and tech executives increasingly appear to be consolidating around other candidates in the race.
One consultant familiar with statewide Democratic politics described Mahan’s campaign as financially strained at the exact moment voters are beginning to tune into the contest.
Hastings, meanwhile, remains one of California’s most powerful political donors. The Netflix billionaire has spent tens of millions of dollars on Democratic causes, charter school initiatives and housing campaigns over the years.
He has also emerged as an outspoken supporter of Gavin Newsom and publicly floated the governor as a potential Democratic presidential contender in 2028.
