Craig Newmark, the 71-year-old founder and former CEO of classifieds site Craigslist, is alarmed about potential cybersecurity risks in the US. “The

Craigslist founder is giving away $200 million to prevent cybercrimes against the US

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2024-11-25 06:30:02

Craig Newmark, the 71-year-old founder and former CEO of classifieds site Craigslist, is alarmed about potential cybersecurity risks in the US.

“The deal is our country is under attack now,” he told Yahoo Finance executive editor Brian Sozzi on the Opening Bid podcast (video above; listen in below). “It’s not like I’m in the recruiting line after Pearl Harbor because my dad volunteered in the '40s, but I guess that’s what I should be doing.”

Newmark, who stepped down from the company in 2000 but kept a position answering customer complaints, has foregone reaping financial rewards in semi-retirement.

Instead, he started Craig Newmark Philanthropies to primarily invest in projects to protect critical American infrastructure from cyberattacks. He told Sozzi he is now spending $200 million more to address the issue, on top of an initial $100 million pledge revealed in September of this year.

“I tell people, 'Hey, the people who protect us could use some help. The amounts of money comparatively are small, so why not help out,'” he said.