Netflix CEO Reed Hastings and his wife, Patty Quillin, announced Wednesday that they will donate $120 million to support scholarships at historically black colleges and universities. The United Negro College Fund, meanwhile, is a minority education organization that awards scholarships to more than 10,000 students each year and financially supports 37 historically black colleges and universities. Endowments at historically black colleges and universities are significantly lower than at comparable institutions - the median endowment for American Historically Black Colleges and Universities (HBCU) is $15.7 million, compared with the median endowment of $36.8 million for non-HBCUs, a news release said. In 2010, he launched a $100 million education fund, focused on giving money toward college scholarships for black and Latino students. The United Negro College Fund is a minority education organization that awards scholarships to more than 10,000 students each year and financially supports 37 historically black colleges and universities.

Source: Daily Mail June 17, 2020 16:21 UTC