Netflix CEO Reed Hastings and his wife, Patty Quillin, announced they are giving $120 million to support historically black colleges and universities.
The donation is the largest of its kind in HBCU’s history and will be shared by Atlanta’s Morehouse College and Spelman College along with the United Negro College Fund. Spelman College president Mary Schmidt Campbell remarked in an interview with Gayle King on CBS This Morning that the gift is a gamechanger. “This gift is such an affirmation of all of those gifted, hardworking students who want to come to places like Spelman and Morehouse… Now we have the resources to support 200 students, each of us, over the next ten years. That’s a game-changer.”
Hastings credited Dr. Michael L. Lomax, president and CEO of the United Negro College Fund, for “offering to help” him and his wife get to know the HBCUs, and explained why now is as important a time as ever to shine a spotlight on the significance of these institutions.
“I was making the case to Patty and Reed — great education at historically black colleges, but we need great philanthropists to step up and invest,” explained Lomax. “this gift is the largest single gift made to UNCF and our HBCUs in 76 years of history. It is made by private individuals… Patty and Reed need to be inspirations to more people to give.”
Morehouse president David A. Thomas echoed Lomax to create change, nonviolent social action, the vote, organizing, educating and leading and serving… I wrote to Reed later that what I really felt in his and Patty’s reaching out was a true partnership. And then the $40 million email came … my wife had to tell me to put her down. and Campbells sentiments adding, ”
Each institution will receive $40 million each from the Netflix CEO.