Netflix CEO Reed Hastings thanks employees after launching $100m (£69.3m) education fund

Netflix CEO and Co-Founder Reed Hastings has thanked his employees after starting a $100million (£69.3million) fund for kids’ education.

His venture follows in the footsteps of Warren Buffett and Facebook CEO Mark Zuckerberg, who donated 99% of his shares to charity last month. At the time Executive Grapevine wondered if Zuckerberg’s actions would cause peers to follow suit.

While Hastings gesture cannot solely be attributed to the actions of the Facebook Co-Founder, it continues a philanthropic precedent amongst prominent leaders.  

In a Facebook post, Hastings said: “I’m thrilled to announce that I’m funding a new $100million (£69.3million) philanthropic fund for education, creatively named the Hastings Fund, through the Silicon Valley Community Foundation. Neerav Kingsland is the CEO of this fund, and will donate these funds in the best way possible for kids’ education.