Netflix CEO Reed Hastings announced Tuesday he will launch the Hastings Fund, a foundation focused on education. The fund will start with $100 million. Its CEO will be Neerav Kingsland, who was formerly the CEO of a foundation that gave funding to schools in New Orleans. Hastings will be the sole trustee of the fund.
“Currently, too many children do not have access to amazing schools,” the fund’s website says. “Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences.”
Not all of the $100 million will go to charter schools. The fund is launching with a $1.5 million investment to two foundations that help minority students succeed in college.
Hastings has been a public supporter of charter schools for nearly 20 years. He is currently on the board of the Knowledge Is Power Program network of charter schools, the largest in the country. Hastings was appointed to the California State Board of Education by a Democratic governor, but also had the support of Gov. Arnold Schwarzenegger, a Republican.
Facebook CEO Mark Zuckerberg, who has also supported charter schools in the past, reacted positively to Hastings’s announcement. “Thank you for your leadership on education!” Zuckerberg wrote on Facebook. “You’ve been an important mentor and example for me and Cilla [Zuckerberg’s wife], and we look forward to working together even more.”
Jason Russell is a commentary writer for the Washington Examiner.
