Netflix Chief Launches $100 Million Education Foundation

Reed Hastings has already made it easier for millions to access entertainment.

Silicon Valley is in a giving mood.

Hastings, the CEO and cofounder of Netflix, announced in a Facebook post Tuesday that he is launching a $100 million fund to back efforts that connect children with better educational experiences.

Neerav Kingsland, a senior fellow at the Arnold Foundation and former CEO of New Schools for New Orleans, will manage the fund.

Hastings doesn’t have quite as much money to give away as the Zuckerbergs of the world. Additionally, others have complained that when tech leaders are deciding what to fund, it puts too much power in the hands of private citizens instead of governments.

Hastings has a longstanding interest in education reform.

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. Hastings served on the California State Board of Education and is a board member of several educational organizations.

The first two grants from the Hastings Fund, totaling $1.5 million, will support college acces for minority students.

The funds will be donated under Kingsland’s lead and will go toward kids’ education in various ways.

“There are a lot students in this country who don’t have access to incredible schools”, Kingsland continued.