Reed Hastings and Patty Quillin
/SOURCE OF WEALTH: Netflix
FUNDING AREAS: Education, Immigration Reform
OVERVIEW: Billionaire couple Reed Hastings and his wife, Patty Quillin, are Giving Pledge signatories. So far the couple's philanthropy has prioritized education. Hastings was president of the California State Board of Education for several years and helped lead successful statewide political campaigns for more public charter schools. Recently, the couple set up a $100 million education fund.
BACKGROUND: Reed Hastings was born in Boston and attended Bowdoin College, graduating in 1983. He served as a U.S. Marine and in the Peace Cops, when he taught math in Swaziland. He returned to the states and went to Stanford, earning an M.S. in computer science in 1988. Hastings became a software developer and founded Pure Software. In 1997, he founded Netflix, the video-streaming giant that offers television and movie selections, as well as original programming such as Orange is the New Black.
ISSUES:
EDUCATION: Education is by far the Hastings’ largest area of giving. Reed Hastings serves as president of the California State Board of Education and helped to promote statewide campaigns for public charter schools. Hastings launched a $100 million education fund called the Hastings Fund through the Silicon Valley Community Foundation. The fund "aims to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences." The fund has launched with two initial grantees, the Hispanic Foundation of Silicon Valley and the United Negro College Fund. A total of $1.5 million will be dispersed, with the aim of providing students of color "exceptional post-secondary educational experiences." In 2020, the Hastings committed an additional $120 million to support historically Black colleges including Morehouse College, Spelman College and the United Negro College Fund. Hastings’s board positions include KIPP Charter Schools, the Pahara Institute and the City Fund, each of which has received ongoing support from the Hastings Fund. Other past grantees include Kahn Academy, charter school operator Rocketship Education, the Beacon Education Network and Aspire charter network.
IMMIGRATION REFORM: The Hastings have supported FWD.us, "an organization started by key leaders in the tech community to promote policies to keep the United States and its citizens competitive in a global economy." The organization prioritizes immigration reform and education reform.
CRIMINAL JUSTICE REFORM: Reed Hastings donated $1 million through his donor advised fund to support the Center for Policing Equity to improve policing practices around the country.
OTHER: In early 2024, Hastings donated about $1.1 billion worth of Netflix stock to the Silicon Valley Community Foundation, although where it will go from here is currently unclear.
LOOKING FORWARD: The Hastings are likely to remain deeply involved in education philanthropy, with charter schools an historically Black colleges featuring prominently in their grantmaking. Giving for immigration and criminal justice reform is likely to increase.
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