Netflix CEO Reed Hastings is starting a new $100 million philanthropic fund that will focus on education, he announced on Tuesday.
He's been interested in education reform, for a long time. He helped write a 1998 California initiative that made it easier to start charter schools, and was the president of the California board of education from 2001 through 2005.
The new Hastings Fund will operate through the Silicon Valley Community Foundation to "expand educational opportunity."
"Currently, too many children do not have access to amazing schools. Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences," the fund writes on its website.
The Hastings Fund is starting off with a $1.5 million gift to the United Negro College Fund and to Hispanic Foundation of Silicon Valley that is intended to support college education of Black and Latino students.
"I’m so blessed to be able to do this, and I hope to do more in the future. Thanks to all of you who are Netflix members or employees for making this possible," Hastings wrote on his Facebook page announcing the fund.