• About
  • Advertise
  • Privacy & Policy
  • Contact
Newsum
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • Review
  • Inspiring
  • Humor
  • Video
No Result
View All Result
  • Home
  • News
  • Technology
  • Entertainment
  • Lifestyle
  • Review
  • Inspiring
  • Humor
  • Video
No Result
View All Result
Newsum
No Result
View All Result

Netflix CEO donates $120 million to historically black colleges

SonalbySonal
June 19, 2020
inInspiring, World
0 0
0
Netflix CEO donates $120 million to historically black colleges

Reed Hastings. Image Source: Getty Images

4
SHARES
4
VIEWS
Share on WhatsappShare on FacebookShare on TwitterShare on LinkedIn

The CEO of Netflix, Reed Hastings and his wife Patty Quillin said that they will donate $120 million to historically black colleges and universities (HBCU) towards student scholarships.

The amount will be distributed equally between three institutions: the United Negro College Fund, Spelman College and Morehouse College, both based out of Atlanta.

The institutions have confirmed that this is the largest individual gift that they have received in support of student scholarships at HBCUs. The amount can be used to support around 200 students each over the next 10 years.

“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 said in a statement. “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.”

Hastings has had a long history of supporting causes related to education. For instance, in 2016, he launched an education fund with a corpus of $100 million to help towards college scholarship for Black and Latino students.

He also urged other entrepreneurs to contribute generously to address system racial inequality.

“We all tend to give to the institutions that we know and love,” he told CNBC. “If you’re going to give a gift to your alma mater, go ahead and do that, but also give one to the HBCUs.”

Unfortunately, historically black colleges and universities tend to have lesser economic security and funding than their non-HBCU counterparts. According to CNBC, the median endowment for HBCUs is about $15.7 million. This amount is, shockingly, less than half of the funds that the non-HBCUs receive.

This donation by Hastings and Quillin another effort by Netflix to reduce social injustice and support the black community in the United States. Last month, after the death of George Floyd in police custody, Netflix put up a strong message on social media, condemning the violence and lending full support to the African American community.

“To be silent is to be complicit,” it said.

To be silent is to be complicit.
Black lives matter.

We have a platform, and we have a duty to our Black members, employees, creators and talent to speak up.

— Netflix (@netflix) May 30, 2020

Kudos to Hastings and Quillin for this donation! We hope many other entrepreneurs and philanthropists join hands in reducing systemic racial inequality across the world.

2

Like this:

Like Loading...
Tags: HBCUsnetflixReed Hastings

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

‘Remembering Wildlife’ announces winners of Cheetah Photography Competition

Next Post

Human rights activist Malala Yousafzai graduates from Oxford

Next Post
Human rights activist Malala Yousafzai graduates from Oxford

Human rights activist Malala Yousafzai graduates from Oxford

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Browse by Category

  • Apps
  • Business
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • Health
  • Humor
  • Inspiring
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Others
  • Politics
  • Review
  • Science
  • Sports
  • Startup
  • Technology
  • Travel
  • Video
  • World
Newsum

Get Inspired Daily

Follow & Like Us

Recent News

Maersk to operate its first carbon neutral vessel by 2023

Maersk to operate its first carbon neutral vessel by 2023

February 24, 2021
Breathtaking pictures of frozen Niagara Falls go viral!

Breathtaking pictures of frozen Niagara Falls go viral!

February 24, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • News
  • Technology
  • Movie
  • Lifestyle
  • Review
  • Inspiring

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version
%d bloggers like this: