Netflix chief begins a $one hundred million schooling fund

Netflix chief starts a $100 million education fund

Netflix CEO Reed Hastings might plan to make some huge cash within the close to future, however he is additionally bent on giving a few of that cash away, too. He is beginning up the Hastings Fund, a $one hundred million cash pool that may contribute to schooling. Whereas the primary donations are modest ($1.5 million for the United Negro School Fund and Hispanic Basis of Silicon Valley), there’s speak of extra — and establishing the fund exhibits this would possibly not be the top of his philanthropic efforts.

I am thrilled to announce that I am funding a brand new $100m philanthropic fund for schooling, creatively named the Hastings…

Posted by Reed Hastings on Tuesday, January 12, 2016

In the event you know Hastings’ historical past, this gesture is not completely shocking. He was the president of California’s State Board of Schooling for 4 years, and he labored within the Peace Corps in the course of the Nineteen Eighties. In 2012 he and his spouse Patty Quillin dedicated to the Giving Pledge (PDF), promising a majority of their belongings can be used for philanthropy. In that sense, Hastings is returning to his roots — he simply has a number of money available this time round.

[Image credit: Robyn Beck/AFP/Getty Images]