Netflix CEO Reed Hastings Donates $120 Million To HBCU's and UNCF

By Say~It~Loud!

November 14, 2020

The CEO and Co-founder of Netflix, Reed Hastings and his wife Patty Quillin, have announced a 120 million dollar donation to Morehouse, Spellman and The United Negro College Fund. The funds earmarked for...

The CEO and Co-founder of Netflix, Reed Hastings and his wife Patty Quillin, have announced a 120 million dollar donation to Morehouse, Spellman and The United Negro College Fund. The funds earmarked for scholarships is one of the largest donations to HBCU’s in history. Morehouse College, Spelman College, (both located in Atlanta)  and the United Negro College Fund each received $40 million.

The couple was motivated by the killing of George Floyd and the need to do something to make a change, decided to take action to find a way to provide more opportunities for African Americans. And, they determined that donating to HBCU’s was the perfect vehicle.

Speaking of the donation, Mary Schmidt Campbell, the president of Spelman remarked,“I mean, truly I was speechless. I actually cried.” The next day, Ms. Quillin: contacted her to announce that “they were raising the donation to $40 million.” Morehouse College President David Thomas said the gift is powerful because it is specifically directed toward scholarships. Thomas has set a goal to reach a $500-million endowment for Morehouse.

Mr. Hastings and Ms. Quillin have been active in education philanthropy for many years and although this is their largest donation to date, it is not their first.  In 2016, Hastings created a $100-million Hastings Fund toward education, $1.5 million of which went toward the United Negro College Fund.