Billionaire philanthropist MacKenzie Scott has donated $70 million to the UNCF, the largest private provider of scholarships to minority students.

Netflix CEO Reed Hastings and his wife, Patty Quillin, announced they are giving $120 million to support scholarships at historically black colleges and universities. The donation, the largest of its kind, will be split among Morehouse College, Spelman College and the United Negro College Fund, and will be enough for both universities to support 200 students each over the next decade. Hastings and Lomax, along with Morehouse College President David A. Thomas and Spelman College President Mary Schmidt Campbell, spoke with "CBS This Morning" co-host Gayle King about the record-setting gift. The wonderful thing about this gift is Patty and Reed did not want the gift named after them. RELATED CONTENT:Jennifer Aniston Donates Nearly $1 Million to Racial Justice CharitiesBTS Donates $1 Million to Black Lives Matter Amid ProtestsMichael Jordan Donating $100 Million to Social Justice Organizations