Netflix CEO and wife donate $10 million to Tougaloo College
Half of the money will help bolster Tougaloo College’s endowment
JACKSON, Miss. (WLBT) - Mississippi fans of Netflix are helping to make a major investment in education.
Netflix CEO Reed Hastings and his wife are donating $10 million to Tougaloo College. Half of the money will be used for the partnership with Tougaloo and Brown University for students pursuing careers in medicine, public health, the sciences, education, business, and other fields. The remaining $5 million will go to Tougaloo College’s endowment. Hastings was on the campus for the announcement Monday and took time out to thank Netflix members.
Hastings said, “we are very fortunate to be able to give because of the great success of Netflix. So thank you to all of you who are members. And the company is really focused on incredible entertainment to which I will recommend to you Season 2 of Bridgerton, which is coming in March. And the Adam Project, which may be one of the best movies we ever made also coming in March. But because of that big success, we have the good fortune to do this work.”
Hastings says he will not be hands-on on how the endowment is used.
“This is as hands-off as a donation gets. So we care a lot, but there is a lot of expertise in this institution and what there has been is a lack of endowment and resources. So that’s the critical thing that I hope to be able to advocate for,” Hastings said.
Tougaloo’s President, Dr. Carmen Walters, says the endowment will provide crucial, need-based scholarships to deserving and talented undergraduate students, including many who are still dealing with the economic impact of the COVID-19 pandemic.
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