Why Craigslist billionaire Craig Newmark spent nearly $200 million to save journalism and defeat President Trump
tested positive for coronavirus in June, having apparently had the virus asymptomatically,” says Craig Newmark, billionaire founder of Craigslist, via a Google Hangouts video call from his San Francisco home in July. Delivered in his customary monotone, Newmark will only entertain questions about his diagnosis for a few minutes—he got tested because his dentist required two negative tests before an operation. Yes, he has tested negative twice since.
2020 will be a decisive year for Newmark, as it will indicate whether his money has been well spent—or not. Aside from the large gifts to journalism, he also regularly doles out smaller-size gifts to cybersecurity and election integrity. “They’re all parts of the same thing, which is defending our country and protecting the election,” Newmark says.
“I was briefly CEO, until informed that as a manager, I kinda suck,” reads Craig Newmark's LinkedIn page. At the helm for only ten months, Newmark surrendered the chief executive post to Jim Buckmaster in 2000.On the day of the interview, Newmark was particularly worried by what was happening in Portland.
Craigslist is huge, breaking $1 billion in revenues in 2018. It’s estimated that profit margins are close to 85%, with nearly half of that going to Newmark.
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