Netflix CEO and co-founder Reed Hastings has announced he’s launching a $100 million fund, called the Hastings Fund, to expand educational opportunities for children.
The Hastings Fund lists its mission statement as the following: “Currently, too many children do not have access to amazing schools. Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences.” Hasting will be the sole trustee of fund.
The Netflix CEO took to Facebook to make the announcement, he said: “I’m thrilled to announce that I’m funding a new $100m philanthropic fund for education, creatively named the Hastings Fund, through the Silicon Valley Community Foundation. Neerav Kingsland is the CEO of this fund, and will donate these funds in the best way possible for kids’ education.
“The first two gifts are to United Negro College Fund and to Hispanic Foundation of Silicon Valley to support college education of Black and Latino youth, totalling $1.5m.
“I’m so blessed to be able to do this, and I hope to do more in the future. Thanks to all of you who are Netflix members or employees for making this possible.”
Facebook’s big boss Mark Zuckerberg commented on the post:
Last year Zuckerberg pledged to give away 99 per cent of Facebook’s shares over the course of he and his wife, Priscilla Chan’s, lives. The shares are estimated to be worth around $US45 billion.