Craig Newmark Net Worth

Net Worth Post

Craig Alexander Newmark, commonly known as Craig Newmark, is a famous American businessman, entrepreneur, as well as a writer. To audiences, Craig Newmark is perhaps best known for founding “Craiglist”, a popular advertisements website, which focuses on jobs, wanted items, sales, discussion forums and other services. Newmark first established the website in 1995, which was initially considered to be an email distribution list that he created to help his friends. A year later, in 1996, it started expanding and included more cities in the United States, until it eventually began covering countries abroad such as Spain, Italy, and France. According to the statistics, “Craiglist” currently gains approximately 20 billion views every month, and since its source of revenue relies heavily on job ads in particular cities, such as $25 per ad in Los Angeles, San Diego, New York, and other cities in the United States, the amount of revenue grows each year, when more people learn about the site.

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Craig Newmark Net Worth $400 Million

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In 2013, Newmark confirmed that 25% of the stakes in the company were bought out by another company, namely “eBay”, which specializes in e-commerce, particularly consumer-to-consumer services via the Internet. Even though it initially raised concern from the devoted fans of the website, Newmark’s partnership with “eBay” has so far proved to be a smart choice. Over the years, “Craiglist” became one of the most popular advertisements websites, and it currently has 28 people working for it.

A famous businessman, how rich is Craig Newmark? Sources state that Craig Newmark’s net worth is estimated to be $400 million. Undoubtedly, Craig Newmark has accumulated most of his net worth and wealth due to his business ventures.

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Craig Newmark was born in 1952, in Morristown, New Jersey, where he studied at the Jewish religious school and later transferred to Morristown High School. Upon graduating from high school, Newmark enrolled in the Case Western Reserve University. Newmark graduated from the university with both a masters as well as a bachelors degree in science. When he finished his studies, Newmark went on to work for a well-known multinational technology and consulting corporation called IBM, where he worked for over 17 years. As he moved out to San Francisco, Newmark quit his job at IBM and instead started working for a popular investor, businessman and the founder of the “Charles Schwab Corporation” Charles Schwab. It was Schwab who helped Newmark realize the opportunities that are provided by the Internet services.

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