CNN reports that the CEO of Netflix says he will donate $120 million to historically black colleges and universities (HBCUs), calling the gift “an investment in America’s future.”
Reed Hastings, the CEO of Netflix, and his wife Patty Quillin, said Wednesday they are donating $40 million to Morehouse College, $40 million to Spelman College, and $40 million to the United Negro College Fund (UNCF).
“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.”
The two said HBCUs “has a tremendous record, yet are disadvantaged when it comes to giving.”
“Generally, white capital flows to predominantly white institutions, perpetuating capital isolation,” they said. “We hope this additional $120 million donation will help more black students follow their dreams.”
They called on others to also support these institutions to help “reverse generations of inequity in our country.”
America is a country where blacks are most often subjected to racism.
His move seeks to breed a generation that will stay far from racism.