News: Reed Hastings will be the sole trustee of the Hastings Fund.
Netflix CEO Reed Hastings has started an initiative named the ‘Hastings Fund’, in which he has pledged $100m to education.
The fund will be launched with $1.5m investment in the Hispanic Foundation of Silicon Valley and UNCF scholarship funds.
It will donate the amount to the UNCF and Hispanic Foundation of Silicon Valley, to provide students with good post-secondary educational experiences.
The initiative aims to help those children who do not have access to good schools and, by partnering with communities, it plans to significantly increase the number of students who have access to holistic education.
Reed has been a part of education reform before, as in 1998 he helped write an initiative that made it easier to start charter schools.
He also had served as the president of the California board of education from 2001 through 2005, reported Business Insider.
Reed Hastings will be the sole trustee of the Hastings Fund, and Neerav Kingslan, who served as the CEO of New Schools for New Orleans will be the CEO.
Reed is just one of the tech executive doing philanthropic work, as recently Facebook CEO Mark Zuckerberg announced that he will gave away 99% of his shares to charity during his lifetime.