Craig Newmark Net Worth in 2024: How Much Does The Founder Of Craiglist Have?

Founded in 1995, Craiglist has always been a popular American classified advertisements website. The man behind the website is Craig Newmark.

Before becoming a successful entrepreneur, he worked as a programmer in many big companies. Back in 1995, he would have never imagined his basic-looking website to become so big.

For those curious to know, Craig Newmark’s net worth in 2024 is around $1.5 Billion. If you want to know more about his life history and career, then do give this article a read.

Quick Facts

Full Name	Craig Alexander Newmark
Birth Date	December 6, 1952
Age	71
Profession	Entrepreneur and Philanthropist
Country of Origin	USA
Nationality	American
Marital Status	Married
Spouse	Eileen Whelpley
Net Worth (as of 2024)	$1.5 Billion
Last Updated:	Jan 24, 2024
Social Media	Instagram Facebook Twitter

Family and Early Life

Craig Newmark was born on 6th December 1952, in New Jersey. His mother, Joyce Newmark was a bookkeeper, and his father, Lee Newmark was a salesman. He has a younger brother named, Jeff.

He lost his father at the age of 13. After that, his family settled in Jacob Ford Village.

Education Background

Based on sources, Craig Newmark completed his high school graduation from Morristown High School. There he joined the physics club, school choir, debate team, and honor society.

He was always a bright child since the beginning. After his graduation in 1971, he enrolled at Case Western Reserve University. There he acquired his degree in computer science. He received his B.A. degree in 1975. Two years later, he completed his master’s.

Person Life

Craig Newmark is a married man. His wife’s name is Eileen Whelpley. The couple tied the knot in 2012. It’s not clear if they have kids or not. 

However, we do know that they have two lavish houses. One is located in Cole Valley, San Francisco, and the second one is in Greenwich Village, New York.

Career

Craig got his first job at IBM where he worked as a system engineer. He spent 17 years working for the tech giant. During this time, he was posted in many cities, including Detroit, Boca Raton, and Pittsburgh.

In 1993, he was recruited by the Charles Schwab Corporation and moved to San Francisco. Around this time, he started taking interest in the internet. At the same time, he also worked as a programmer for companies like Bank of America and Sun Microsystems.

To create a sense of community, Craig started sending emails to a select group of friends. He then launched Criaglist.org in 1996 to add more people to the list. At that time, he was running the site as a hobby. After realizing the potential of his website, he left his job.

Craigslist generates millions of dollars every year. Despite the success, the company has only 50 employees. Craig has kept the company private. The success of Craiglist helped Craig become a member of several non-profit organizations.

Earnings and Wealth

Craig Newmark’s biggest source of income is Craiglist. The website charges a fee of $3 to $75 for listing ads. As per reports, Craiglist made revenue of $1 billion before the pandemic.

Craig’s net worth in 2024 is estimated at a whopping $1.5 Billion. His net worth has been increasing steadily every year.

FAQs

1. How does Craig Newmark make money?

If you have heard of Craigslist, chances are that you didn’t know who the founder of the platform is. That’s where Craig Newmark steps in. He is the founder of the online marketplace. However, the unique thing is that when Craig started the platform, it was simply a newsletter based out of San Francisco. He later expanded it to the online marketplace that we know today.

2. Who owns Craig Newmark Philanthropies?

The Craig Newmark Philanthropies is a grant-making organization that’s owned by Craig Newmark. He is a famous billionaire, who is also the founder of Craigslist. The organization primarily works with helping out people across the globe, including individuals protecting the country.

3. Is Craigslist only in America?

Craigslist is one of the top 20 websites in the United States, which surprisingly generates annual revenue of over $1 billion. The website, which started in 1999, has only grown to exponential heights. It isn’t limited to just the U.S. though because the website is accessible across 70 countries.

4. Why is it called Craigslist?

Craigslist was founded by Craig Newmark, who started the website with the intent to have an email distribution list for his friends. It featured a list of local events that were happening in the San Francisco Bay area. However, the idea grew to become Craigslist.