Netflix CEO Reed Hastings Decided To Donate $120 Million To Black Colleges And Universities


The current black lives matter movement has become famous among entrepreneurs helping the black community by donating money. Reed hasting has joined that list by pledging to give $120 million to black community colleges and universities. The funding came in the name of Mr. and Mrs. Hastings to HBCUs, which will be used to educate needy people from the black community. Reed, in an interview, talked about how educational institutions’ funding works in real life. Usually, fundings given by white capitalists go for white institutions, and other communities are ignored. However, when he learned about HBCUs, he decided to help them also.

Reed also talked about the current racial environment in America, which is becoming more tragic for this community. Reed thanked Michael L Lomax for suggesting and gave him an idea about the HBCUs. Because until then, he didn’t have a clue about the situations in such colleges. Michael L Lomax is the head and CEO of the United Negro College Fund, which distributes the funds received from philanthropists to needy colleges. According to Lomax, from over the period, HBCUs were ignored by philanthropists. The majority of them didn’t give that much funding as compared to other institutions. However, the current situation in America forces people to consider the importance of HBCUs also.

Reed Hastings gave an interview in which he talked with Michael L. Lomax and also the problems faced by these institutions. Funding from Mr. and Mrs. Hastings will be used by colleges and universities to teach black kids who will shine brightest with the right education. Lomax thanked Hastings for coming out to help HBCUs, but he thinks the help could be more significant. According to him, many philanthropists now consider giving their funding to these colleges that are in actual need of money to educate needy people.