Netflix (NFLX) CEO Reed Hastings and his wife Patty Quillin are committing $120 million to the United Negro College Fund and historically black higher education institutions Spelman College and Morehouse College. The donation, the largest of its kind, was partly inspired by Robert F. Smith, CEO and chairman of Vista Equity Partners, who last year announced that he would pay off the student debt of about 400 Morehouse College students.
Smith joined Yahoo Finance to discuss the Hastings donation, education inequality, and corporate America’s push for diversity.
“I’m encouraged by the fact that we’re seeing business leaders like Reed and Patty saying, listen, we are going to do something about it. You know, we have centuries of systemic racism and it has been playing out in the form of educational disparities, health care disparities, and economic disparities. … [It’s a] dynamic that we’re really facing as an urgent crisis around