Netflix CEO Reed Hastings Announces $100 Million Philanthropy Initiative

There is a growing list of influential leaders in the field of technology that are giving back large portions of their wealth.  Last week, Netflix CEO Reed Hastings was the latest to pledge his money.

Hastings announced on Facebook that he is committing $100 million to fund children's education.  The Hastings Fund will operate through the Silicon Valley Community Foundation.

The first two gifts from Hastings will be to the United Negro College Fund and the Hispanic Foundation of Silicon Valley.  Recently, Facebook CEO Mark Zuckerberg and his wife announced a $45 billion initiative and Twitter/Square CEO Jack Dorsey also plans to give half of his stake at Square to underserved communities.

Hastings is no stranger to giving to education.  He served on the California State Board of Education and is currently a board member for many other educational organizations.

Netflix has taken off since Hastings co-founded the company as a direct mail film rental operation in 1997.  The subscription service has grown leaps and bounds under his watch.

Hastings has placed on Time's list of 100 most influential people in the world.  Prior to Netflix, he built Pure Software into one of the world's 50 largest public software companies.

In addition to the educational boards, Hastings currently sits on the Board of Directors for Facebook and was on the board at Microsoft for seven years.  He is also a member of the Video Business Hall of Fame.

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Reed Hastings Keynote Speech at CES 2016: