Geneva-based Gavi announced the cash donation from Hastings and Quillin on Friday, saying it’s the first private-sector contribution toward its drive to raise at least $7.4 billion to immunize 300 million children over the next five years.
Amid the COVID-19 pandemic, Gavi said, it is helping to fund immunization programs in lower-income countries around the world. The organization also said it will help fast-track coronavirus vaccine development and — once it’s available — assist with manufacturing, procurement and delivery to areas that most need it.
“Global immunization is vital to ending this terrible pandemic, and Gavi’s hard-fought gains in this area will help prevent more lost lives and livelihoods,” Reed Hastings said in a statement. “We hope that our contribution will help those most in need, but also to inspire other businesses, entrepreneurs and organizations to join in this urgent effort.”
Hastings currently has a net worth of $4.6 billion, most of which is tied to Netflix stock holdings.
Founded in 2000, Gavi Alliance says it has helped immunize more than 760 million children across the globe, which has prevented an estimated 13 million deaths. The vaccine alliance’s donors include the Bill and Melinda Gates Foundation, the International Federation of Pharmaceutical Wholesalers and other private-sector partners, and governments include the United States.