It seems like we’re in the Twilight Zone. In the last month, there has been a surge of support for everything black. Not only have other races jumped on the frontlines with their fellow black peers to protest the killing of unarmed black men sparked by George Floyd’s death, but now some of the richest and most privileged are making efforts to repair the past.
Reed Hastings is the latest billionaire to give to the black community. The co-founder of Netflix and his wife, Patty Quillin, handed over a donation of $120 million towards Historically Black Colleges and Universities (HBCUs).
Morehouse College and Spelman College, along with the United Negro College Fund, will be the beneficiaries of what is considered to be the largest donation made by an individual to HBCUs. Each college will receive $40 million. This would not be the first time the couple has donated to these HBCUs.
“We’ve supported these three extraordinary institutions for the last few years because we believe that investing in the education of black youth is one of the best ways to invest in America’s future,” said Quillin and Hastings. “Both of us had the privilege of a great education and we want to help more students – in particular students of color – get the same start in life. HBCUs have a tremendous record, yet are disadvantaged when it comes to giving.”
“Generally, white capital flows to predominantly white institutions, perpetuating capital isolation,” the couple continued. “We hope this additional $120 million donation will help more black students follow their dreams and also encourage more people to support these institutions – helping to reverse generations of inequity in our country.”
Over 10 years, the donation will help 200 students obtain a debt free education. Hastings is hoping that the donation will inspire other wealthy philanthropists to follow his lead.
As the discussion about systemic racism and its ensuing problematic culture permeate the discourse in the U.S., many black people are bringing up reparations. If black people, which make up about 13% of the U.S. population, were to receive reparations, it could amount to $17.1 trillion dollars, according to reports from the New York Times and Yahoo! Finance.
It is great that some wealthier white people are making an effort to be proactive about addressing the economic disparities in the U.S. But, it doesn’t eliminate the fact that black people are due more than a few million dollars. The question is, how much of these billionaires and legacies of white families’ wealth can be historically attributed to the free labor and sacrifices of black people?
