Meet Craig 'Craigslist' Newmark, the self-professed 'nerd' who built a $1 billion online listing empire and donated $20 million to a media company that's now facing a massive editorial exodus (2024)

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Founder of online ads site Craigslist, Craig Newmark has, according to Forbes, a net worth of $1.6 billion. He stepped back from the company in 2000, and now focuses on philanthropy. Newmark was born in Morristown, New Jersey in 1952 ... ... and later attended school at Case Western Reserve University in Cleveland, Ohio. Newmark originally planned on working as a quantum physicist but studied computer systems instead. After graduation, Newmark joined IBM, where he would work for the next 18 years. The job took Newmark to Boca Raton and Detroit to work with General Motors before he finally landed in San Francisco in 1993. At his new job with Charles Schwab, Newmark was introduced to the internet during the early stages of many Silicon Valley empires. New to the city, Newmark relied on recommendations from colleagues and friends. In 1995, he decided to start an email newsletter. Originally called "San Francisco Events," the newsletter was commonly referred to as "Craig's List." People quickly advised Newmark to change the name to Craigslist to help establish a brand. Craigslist grew quickly, offering spaces for classified ads online. Today, the company employs around 40 workers. According to Forbes, the site receives over 50 billion page views per month and earns $690 million in revenue. Over the years, Newmark has been criticized for his site's impact on the newspaper business, as classified ads served as a huge revenue source for print news prior to Craigslist's online disruption. In a 2018 interview with Business Insider, Newmark said he decided, against the recommendations of many advisors, "to monetize as little as possible" and did not take the venture capitalist route so many Silicon Valley companies choose. As Newmark told Business Insider's Jim Edwards, "VC's and bankers at that point told me I should do the usual Silicon Valley thing and make some billions. But no one really needs billions of dollars, except to give away." In 2018, Newmark donated $20 million to the City University of New York's Graduate School of Journalism. Following his donation, the dean renamed the school the Craig Newmark Graduate School of Journalism. Additionally, Newmark has donated to other journalism institutions — including $1 million each to the Poynter Institute, ProPublica, and Mother Jones — along with Girls Who Code and Iraq and Afghanistan Veterans of America. Newmark also holds advisory board positions for numerous other nonprofit organizations and has donated to Democratic Party presidential candidates. Newmark married Eileen Whipley in December of 2012. The couple currently splits their time between San Francisco and their Greenwich Village duplex in New York City. Newmark refers to himself as an "old-school" nerd. He also told Business Insider's Jim Edwards he doesn't see himself as famous, despite founding a multimillion-dollar, eponymous company. Newmark also backs The Markup, a forthcoming tech publication. On Tuesday, the site made headlines after five out of seven editorial staffers quit following the departure of their editor-in-chief, Julia Angwin. The non-profit had plans to launch in July of this year. FAQs

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Marissa Perino

2019-04-24T19:56:00Z

Meet Craig 'Craigslist' Newmark, the self-professed 'nerd' who built a $1 billion online listing empire and donated $20 million to a media company that's now facing a massive editorial exodus (1)

Craig Newmark is the founder of classified ads website Craigslist. Newmark started the site as an email newsletter called "San Francisco Events."
Newmark only led the company for five years — he stepped down as CEO in 2000 and has dedicated his time to philanthropy ever since.
Most recently, tech publication The Markup — which Newmark helped raise $22 million for — made headlines for its staff exodus on Tuesday.
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Founder of online ads site Craigslist, Craig Newmark has, according to Forbes, a net worth of $1.6 billion. He stepped back from the company in 2000, and now focuses on philanthropy.

Source: Forbes, Craig Newmark Philanthropies

Newmark was born in Morristown, New Jersey in 1952 ...

Source: Business Insider, Craig Newmark Philanthropies, Gizmodo

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... and later attended school at Case Western Reserve University in Cleveland, Ohio. Newmark originally planned on working as a quantum physicist but studied computer systems instead.

Source: Business Insider

After graduation, Newmark joined IBM, where he would work for the next 18 years.

Source: Bloomberg

Advertisem*nt

The job took Newmark to Boca Raton and Detroit to work with General Motors before he finally landed in San Francisco in 1993. At his new job with Charles Schwab, Newmark was introduced to the internet during the early stages of many Silicon Valley empires.

Source: Gizmodo, Business Insider

New to the city, Newmark relied on recommendations from colleagues and friends. In 1995, he decided to start an email newsletter. Originally called "San Francisco Events," the newsletter was commonly referred to as "Craig's List." People quickly advised Newmark to change the name to Craigslist to help establish a brand.

Source: Business Insider

Advertisem*nt

Craigslist grew quickly, offering spaces for classified ads online. Today, the company employs around 40 workers. According to Forbes, the site receives over 50 billion page views per month and earns $690 million in revenue.

Source: Business Insider, Forbes

Over the years, Newmark has been criticized for his site's impact on the newspaper business, as classified ads served as a huge revenue source for print news prior to Craigslist's online disruption.

Source: Politico, New York Times

Advertisem*nt

In a 2018 interview with Business Insider, Newmark said he decided, against the recommendations of many advisors, "to monetize as little as possible" and did not take the venture capitalist route so many Silicon Valley companies choose.

Source: Business Insider

As Newmark told Business Insider's Jim Edwards, "VC's and bankers at that point told me I should do the usual Silicon Valley thing and make some billions. But no one really needs billions of dollars, except to give away."

Source: Business Insider

Advertisem*nt

In 2018, Newmark donated $20 million to the City University of New York's Graduate School of Journalism. Following his donation, the dean renamed the school the Craig Newmark Graduate School of Journalism.

Source: CUNY

Additionally, Newmark has donated to other journalism institutions — including $1 million each to the Poynter Institute, ProPublica, and Mother Jones — along with Girls Who Code and Iraq and Afghanistan Veterans of America. Newmark also holds advisory board positions for numerous other nonprofit organizations and has donated to Democratic Party presidential candidates.

Source: Poynter, Poynter, Craig Newmark Philanthropies, Variety

Advertisem*nt

Newmark married Eileen Whipley in December of 2012. The couple currently splits their time between San Francisco and their Greenwich Village duplex in New York City.

Source: Business Insider, Gizmodo

Newmark refers to himself as an "old-school" nerd. He also told Business Insider's Jim Edwards he doesn't see himself as famous, despite founding a multimillion-dollar, eponymous company.

Source: Business Insider

Advertisem*nt

Newmark also backs The Markup, a forthcoming tech publication. On Tuesday, the site made headlines after five out of seven editorial staffers quit following the departure of their editor-in-chief, Julia Angwin. The non-profit had plans to launch in July of this year.

Source: Business Insider

FAQs

How did Craig Newmark make his money? ›

Craig Newmark is a multimillionaire known by two primary things: one, being founder of online marketplace Craigslist, and two, his philanthropic personality. The American entrepreneur has been a successful businessman for a long time.

View Details ›

How much is Craig Newmark worth? ›

He is also a fan of Tori Amos, Lou Reed, and the TV shows Pushing Daisies and The Simpsons. Newmark's net worth is estimated to be in the hundreds of millions of dollars. In April 2020, Forbes estimated his net worth to be $1.3 billion but he has since dropped off its billionaires list.

Read On ›

Who is Craig in Craigslist? ›

Craig Newmark Biography

In 1995 he founded craigslist, which has become one of the world's most-visited websites with around 50 billion pages views per month. In 2011 he founded craigconnects, his personal Web-based initiative to stand up for organizations “getting stuff done” in areas Craig is passionate about.

Discover More Details ›

How did Craigslist grow? ›

Craig Newmark began the service in 1995 as an email distribution list to friends, featuring local events in the San Francisco Bay Area. It became a web-based service in 1996 and expanded into other classified categories. It started expanding to other U.S. and Canadian cities in 2000 and now covers 70 countries.

Who is the CEO of Craigs? ›

Simon Tong has had a varied corporate career including senior leadership roles at Compaq, Fairfax, Paymark and ASB.