Craigslist founder Craig Newmark makes $100 million cybersecurity pledge

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Craig Newmark, the founder of online classified-ads site Craigslist, thinks the U.S. has a cybersecurity problem. 

The entrepreneur turned philanthropist has pledged to donate $100 million to help safeguard the country from potential future cyberattacks, the Wall Street Journal first reported. Newmark will allocate $50 million to protect infrastructure, like power grids, from cyberattacks, including from foreign nations. The other half of his donation will be put toward educating the general public about how to safeguard their personal information, according to the report. 

Newmark, 71, retired from the company he founded in 2018. 

"The country is under attack," Newmark told the Wall Street Journal. He said that cybersecurity experts who are working to protect the country from attack "need people to champion them." 

Today, many households make use of connected appliances or smart devices that can make them vulnerable to being hacked by criminals. At the corporate level, cyberattacks have become increasingly common. 

"In the current cyberwar, the fight is on our own shores, and we all need to play an active role for the protection of our country and ourselves," Newmark writes on his website. 

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In June, a hacking group took down CDK Global's software platform, crippling auto dealerships across the U.S. CDK said that hackers demanded a ransom in order to restore its systems. In February, hackers infiltrated payments manager Change Healthcare, paralyzing segments of the U.S. Health care system. They are but two examples of the tremendous repercussions a cyberattack can have on an industry. 

As part of his latest commitment, Newmark, who has pledged to give away nearly all of his wealth to charity, is making donations to a project out of the University of Chicago's public policy school that trains cybersecurity volunteers to strengthen local infrastructure. Child internet-safety group Common Sense Media, is another beneficiary, according to the WSJ report. 

The large majority of the $100 million pledge has not yet been allocated, and organizations can apply for donations through Newmark's philanthropic organization, Craig Newmark Philanthropies. 

On the foundation's website, Newmark says he likes to donate to organizations that he believes in and lets them spend the money as they see fit. "Okay, what I do is find people who are really good at their jobs, and who can tolerate my sense of humor. I provide them with resources, and then get outta their way," he states.

In addition to cybersecurity, other causes Newmark champions include support for military families and veterans, safeguarding trustworthy journalism and pigeon rescue.