Netflix CEO Donates $120 Million to Historically Black Colleges — UPDATE

Netflix
LOS GATOS, CA/USA - JULY 29, 2017: Netflix corporate headquarters and logo. Netflix specializes in and provides streaming media and video-on-demand online and DVD by mail. (Ken Wolter / Shutterstock.com)

Netflix CEO and his wife Patty Quillin are donating $120 million toward student scholarships at Historically Black Colleges and Universities.

According to reports, the couple is giving $40 million to three major Black institutions including the following:

  • The United Negro College Fund
  • Spelman College
  • Morehouse College

The organizations say it is the large individual git in support of student scholarships at HBCUs. It is important to note, Hastings has a long history of supporting educational programs. He launched a $100 million fund in 2016, giving money toward college scholarships for Black and Latino students.

Hastings said now is the time “everyone needs to figure out” how to give back to solving systemic racism. He added HBCUs are “little known gems” for Black education.

Netflix gives back to Black creators after supporting the Black Lives Matter movement

Netflix announces the company will donate $5 million to organizations dedicated to creating opportunities for Black creators, aspiring Black content creators, and Black-owned businesses including Ghetto Film School, Black Public Media, and Colin Kaepernick Know Your Rights Camp.

The streaming company announced an initial donation of $3 million with more to come.

“Tackling racism and injustice in meaningful ways means creating long-term opportunities for the Black community,” Netflix chairman and CEO Reed Hastings said in a statement. “The main role we play is through our funding of and member viewing of important content like ‘When They See Us.’ As an additional step, today we’re committing $5 million to nonprofits dedicated to creating direct opportunities for Black creators, Black youth and Black-owned businesses.”

Netflix is also donating to $1.5 million in total to Ghetto Film SchoolFilm Independent’s Project InvolveFirelight Media, and Black Public Media.

Netflix will donate $1 million grants to three youth organizations including Know Your Rights Campthe Posse Foundation, and Black Girls Code

The company said it is donating $500,00 to Black-owned companies in Los Angeles.

It is important to note Netflix was one of the first entertainment companies to voice their support for the Black Lives Matter movement.

In relevant news, YouTube is creating a $100 million fund to support Black content creators on its streaming platform.

“At YouTube, we believe Black lives matter and we all need to do more to dismantle systemic racism,” YouTube CEO Susan Wojcicki wrote in a Thursday morning blog post where she revealed the multiyear fund “dedicated to amplifying and developing the voices of Black creators and artists and their stories.”

More Project Casting Entertainment news: