Tuesday, January 19, 2016

Netflix CEO’s Gift Will Transform Generations

netflix ceo
Seems like there’s been a rash of tech CEOs getting into the charity field lately. Now, Netflix CEO Reed Hastings has joined them. The co-founder of the streaming service said he wants more kids to have better and easier access to good educations, so he created at $100 million fund dedicated to making that happen.
Hastings is the sole trustee of the Hastings Fund. The first two bequests, a total of $1.5 million on their own, have been designated to the United Negro College Fund and the Hispanic Foundation of Silicon Valley. These donations will fund college for black and Latino youth. "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 told the media.

While this appears to be a case of a good guy with resources doing what he can to help who he can, it’s definitely a boon to Netflix’s PR. The company has come a long way since their notorious double pricing snafu. These days, folks love Netflix. The streaming service continues to offer a wide variety of content, and the signature programming being produced has, to date, well-exceeded expectations.

When all is going well, it’s often a time for the leadership to look outward, see what else they can do to increase the goodwill associated with their brand. Time and money to burn can also reveal the truth of the old adage – money doesn’t change people, it just makes them more of who they are. In this case, it has made Hastings more of a good guy. This fund is far from the first time he has supported education initiatives. Hastings donated millions to various other education programs in the past. This one, though, appears to be the culmination of a life defined by re-investing the rewards of success.

Ronn Torossian is the Founder and CEO of the New York based public relations firm 5WPR: one of the 20 largest PR Firms in the United States.

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