""Okay, I've formally signed up for the Giving Pledge, sometimes considered the Billionaire's Pledge, though I've never been a billionaire, particularly after I gave away all my Craigslist equity to my charitable foundation," Newmark wrote. "Seems like a good way to officially enter my middle seventies, which I've done today.""
""This all feels like a follow up to my decision in early 1999 to monetize Craigslist as little as possible," Newmark said of signing Giving Pledge. "The best estimate so far is that I turned down around $11B that bankers and VCs wanted to throw at me. I still made plenty after that.""
About 250 of the wealthiest people worldwide have pledged to give away the majority of their fortunes through the Giving Pledge. The initiative began in 2010 with Bill Gates, Melinda French Gates, and Warren Buffett and includes signatories such as Mark Zuckerberg, Elon Musk, Larry Ellison, and Bill Ackman. Craig Newmark, founder of Craigslist, announced on LinkedIn that he officially joined the Giving Pledge while emphasizing he is not a billionaire after donating his Craigslist equity to his charitable foundation. Craigslist grew from a 1995 San Francisco email list to a classifieds site now estimated at roughly $3 billion. Newmark's Craig Newmark Philanthropies primarily supports cybersecurity and veterans causes.
Read at Fortune
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