Netflix CEO, wife donate $120M to historically black colleges

The chief executor of Netflix and his wife are donating $120 million to support historically black colleges and universities.

On Wednesday, Morehouse College announced it had received $40 million from Patty Quillin and Reed Hastings. It's the largest single donation in Morehouse's 142-year history. 

Officials with Morehouse said the donation will establish a fund for its Student Success Program, allowing 200 students to graduate debt-free. 

Quillin and Hastings are also donating $40 million each to Spelman College and the 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,” said Quillin and Hastings. “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. HBCUs have a tremendous record, yet are disadvantaged when it comes to giving. Generally, white capital flows to predominantly white institutions, perpetuating capital isolation. We hope this additional $120 million donation will help more black students follow their dreams and also encourage more people to support these institutions - helping to reverse generations of inequity in our country.”

“This life-changing gift from Patty Quillin and Reed Hastings will fund a new generation of Morehouse Men who will be prepared to use their talents to lead and shape America into the nation that it should be—a beacon of opportunity that respects and values the contributions of people of all races, genders, and backgrounds,”  said David A. Thomas, President of Morehouse College. “I appreciate their generosity and confidence in Morehouse’s record as a voice for truth and justice for marginalized people in the world.”