Reed Hastings, the CEO of Netflix, and his wife Patty Quillin, are opening up their bank accounts for HBCUs and the United Negro College Fund.
Hastings and Quillin are donating $40 million to Morehouse College, $40 million to Spelman College, and $40 million to the United Negro College Fund (UNCF), totaling $120 milion.
The power couple said in a joint statement, "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. 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."

RELATED: Cory Booker Proposes $100 Billion To Support HBCUs

The $120 million is the largest-ever individual gift to support scholarships at historically black colleges and universities.
See Morehouse President David Thomas thank Reed Hastings and Patty Quillin in the video below.