Netflix CEO & Wife pledge $120 million gift to Morehouse, Spelman and the United Negro College Fund

Reed Hastings, chief executive of Netflix, and his wife, Patty Quillin, will give $120 million to fund the education of black students in America. Their gift which will be split between Morehouse College, Spelman College and the United Negro College Fund (UNCF) is one of the largest ever given to black institutions by a single donor. Morehouse and Spelman are some of the best Historically Black Colleges and Universities (HBCUs).

In one the first and most substantial gestures, Quillin and Hastings have backed their words with action that ensures many black students will have an equal opportunity to obtain a higher education credential. Most of the news jobs created since 2010 require a post secondary credential and many black students are burdened by debt after they attend College or University. This huge debt burden has further exacerbated the economic challenges faced by African Americans.

We’ve supported these three extraordinary institutions for the last few years because we believe that investing in the education of Black youth is one of the best ways to invest in America’s future,”

Hastings and Quillin

Reed Hastings is an American billionaire businessman. He is the co-founder, chairman, and chief executive officer (CEO) of Netflix. He is estimated to worth about $4.7 billion.