Craigslist Founder Defends Giving Pledge for Billionaires

Craig Newmark says wealth is luck, not wisdom, and billionaires should give more.

Mar. 30, 2026 at 7:23pm

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A photorealistic studio still-life image of a polished metal piggy bank with a large crack running down the side, resting on a clean, monochromatic background and illuminated by dramatic studio lighting, conceptually representing the complex relationship between wealth, philanthropy, and societal impact.A cracked piggy bank symbolizes the complex responsibilities of the ultra-wealthy to use their fortunes for the greater good.NYC Today

In a New York Times opinion piece, Craigslist founder Craig Newmark, who describes himself as "accidentally wealthy," defends the Giving Pledge as a way for billionaires to "make life better for all." Newmark, who has already given away more than $450 million, argues that wealth is simply evidence of luck, not superior wisdom, and that other billionaires should stop sneering at those who give and start doing more of it themselves.

Why it matters

The Giving Pledge, founded by Bill Gates and Warren Buffett, has faced criticism from some tech moguls who view it as naïve or ideologically skewed. Newmark's defense of the pledge highlights the ongoing debate around how the ultra-wealthy should use their fortunes to benefit society.

The details

Newmark, a former billionaire, says he never set out to get rich and kept his Craigslist site bare-bones and mostly free. He believes he simply has "too much money for anyone to have" and has already given away more than $450 million. Newmark formally joined the Giving Pledge last year, committing to part with most of his fortune in life or at death. He argues that donors can support any causes they want, and his own interests include veterans, independent journalism, anti-scam efforts, and even pigeon protection.

  • Newmark joined the Giving Pledge in 2025.
  • Newmark has already given away more than $450 million.

The players

Craig Newmark

The founder of Craigslist, who describes himself as "accidentally wealthy" and has already given away more than $450 million.

Bill Gates

The co-founder of Microsoft and co-founder of the Giving Pledge.

Warren Buffett

The chairman and CEO of Berkshire Hathaway and co-founder of the Giving Pledge.

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What they’re saying

“It's always been my attitude that others could benefit from what I didn't need. Rich people never seem all that happy, either.”

— Craig Newmark, Craigslist Founder

The takeaway

Newmark's defense of the Giving Pledge highlights the ongoing debate around how the ultra-wealthy should use their fortunes to benefit society. His perspective, as an "accidentally wealthy" tech founder who has already given away a significant portion of his wealth, provides a unique and compelling voice in this discussion.