Spelman College

Business • Media & Advertising
Netflix CEO to donate $120 million to HBCUs
Reed Hastings speaking at the Media Convention Berlin in 2015
Reed Hastings speaking at the Media Convention Berlin in 2015 Credit: Mondileinchen / CC BY-SA (Creative Commons Attribution ShareAlike 4.0)

Reed Hastings, CEO of Netflix, announced that he and his wife Patty Quillin would be donating a total of $120 million to three HBCUs, historically black colleges and universities. Morehouse College, Spelman College and United Negro College Fund will receive $40 million each.

In their statement, the pair said that they have "supported these three extraordinary institutions for the last few years" because they believe that "investing in the education of Black youth is one of the best ways to invest in America's future" and adding "generally, white capital flows to predominantly white institutions, perpetuating capital isolation. We hope this additional $120 million donation will help more black students follow their dreams."