Netflix CEO Reed Hastings and his wife Patty Quillin recently announced that they will donate $40 million each to the United Negro College Fund (UNCF) and Spelman and Morehouse colleges, two historically Black institutions in Atlanta.
Hastings and Quillin said in a statement that they hoped their gift would spur others to donate to historically Black colleges and universities to help “reverse generations of inequity in our country.”
“Both of us had the privilege of a great education, and we want to help more students — in particular students of color — get the same start in life,” the couple said. “HBCUs have a tremendous record, yet are disadvantaged when it comes to giving. Generally, white capital flows to predominantly white institutions, perpetuating capital isolation.”
Michael L. Lomax, CEO of UNCF, lauded the pair for the gift.
“I am uplifted by the incredible support of Patty and Reed whose commitment has reaffirmed that we can overcome these challenges together,” Lomax said. “I am buoyed and uplifted by their commitment and generosity. I feel a profound sense of responsibility to steward their incredible gift to maximum impact and ensure that it advances their belief in and commitment to the principle that ‘Black lives matter.’”