Netflix CEO is Donating $120 Million to HBCUs

Posted on by Lydia Elmore

Netflix CEO, Reed Hastings and his wife ,Patty Quillin, are donating $120 million to HBCUs.

What We Know:

  • Reed Hastings is donating $120 million to historicaly black colleges in the wake of worldwide protests against police brutality and systemic racism following the killing of George Floyd.
  • Hastings and his wife made the announcement on Wednesday, explaining the huge donation will go to two historically black colleges in Atlanta, Spelman College and Morehouse College, and the United Negro Fund. Both colleges will receive $40 million each with the remaining $40 million going toward the United Negro Fund.
  • In an interview with MSNBC, Hasting said, “These times are the most stressed, the most painful, that we’ve ever seen in our lives. But out of that pain can come some opportunity, too. And maybe this will be the moment things change.”
  • Hasting stated, “We wanted to do our part to draw attention, in this case, to the HBCU’s 150 years of resilience, of educating young Black people and the stories not well understood in the white community.”
  • Spelman College thanked Hasting and his wife on Twitter saying, “Thanks to a $40M gift from Patty Quillin and Reed Hastings, CEO of @Netflix, over the next 10 years, 200 first-year students will be able to attend Spelman with a full four-year scholarship through the Dovey Johnson Roundtree Presidential Scholarship.”

  • The president of Morehouse College, Dr David A. Thomas also gave thanks via Twitter stating, “This historic $40 million gift from Patty Quillin and Reed Hastings is an affirmation of the work we are doing at Morehouse College to produce leaders who are equipped to affect change in their professions, communities, the nation and the world.”

  • The gift will be the biggest donation Morehouse College has ever recieved in it 153-year history.
  • Hastings also stated, “Tackling racism and injustice in meaningful ways means creating long-term opportunities for the black community. The main role we play is through our funding of and member viewing of important content like When They See Us.”

As an additional step, Netflix is committing $5 million to nonprofits dedicated to creating direct opportunities for black creators, black youth, and black-owned businesses.

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