His internet price, in keeping with Forbes, is $1.6 billion. Mr. Newmark brushed the determine apart. “My focus is on giving it away in a sensible method,” he mentioned, although he didn’t wish to say how a lot he plans to offer away. In earlier interviews, Mr. Newmark, who owns about half of Craigslist, has asserted he’s price a lot lower than folks assume.
One factor is obvious: He isn’t spending his cash on Craigslist. He can’t keep in mind the final time he obtained one thing off the positioning, though he mentioned his spouse used it.
“Craig doesn’t have to show he’s somebody by having possessions,” mentioned Sylvia Paull, a media guide who has recognized Mr. Newmark for 20 years. “His way of life mirrors Craigslist. For years folks have been saying, ‘You’ve obtained to improve the interface, make it extra interactive, add shade.’ He simply says, ‘No, I prefer it easy and plain.’”
Mr. Newmark has been a steadfast supporter of ladies in tech, and constructed an internet site for Ms. Paull’s networking group for ladies, Gracenet, again when that was a labor-intensive initiative. He additionally funds veterans’ causes. He has lingering guilt about not serving in Vietnam though he is aware of he wouldn’t have been a lot of a soldier.
Contributing cash isn’t sufficient. He exhibits up at symposiums, like a current one in Berkeley, Calif. He advised the viewers that he traced the disaster in journalism again to the mid-1990s, when the speaker of the Home, Newt Gingrich, supplied “enticing lies the press simply couldn’t steer clear of.” He criticized The New York Occasions for its protection of the 2016 presidential race and supplied normal recommendation: “Don’t be a loudspeaker for liars.”
Afterward, the primary member of the group to go as much as him mentioned he discovered it “type of ironic” that the man whose web website had accomplished a lot to undermine newspapers was now funding journalism. For the umpteenth time, Mr. Newmark really helpful Mr. Baekdal’s work.
Journalism in San Francisco continues to be in disaster. San Francisco Journal simply made clear its future will contain loads much less journalism and much more fluff. Many workers members have left.