Craigslist founder gives away $300 million to defend the US from cyberattacks

Started in 1995 as an email distribution list, Craigslist became a web-based service with a focus on the San Francisco Bay Area one year later. In 2000, it started expanding to other US and Canadian cities. Last year, it covered about 700 cities across 70 countries. Thankfully, its creator, Craig Newmark, has been heavily involved in philanthropic causes, often in the journalism and cybersecurity areas. Starting in September, he spent no less than $300 million to shield critical US infrastructure from cyberattacks.

Two months ago, the semi-retired tech entrepreneur unveiled that he was going to direct $100 million towards cybersecurity projects that have the goal of protecting companies directly tied to critical US infrastructure. Now, he is adding $200 million on top of that amount. He highlighted the fact that the US "is under attack now" during his chat with Yahoo Finance executive editor Brian Sozzi on the Opening Bid podcast. Apart from donating money to enforce the cybersecurity of vital companies in the US, Newmark is also playing his part by encouraging other people who possess the necessary resources to join the fight as well.

According to the Economic Research Institute for ASEAN and East Asia (direct PDF link), cybercrimes will go from an estimated $9.22 trillion in damages this year to no less than $13.82 trillion by 2028. This makes it even more vital than before for authorities across all levels to act before having to react, Craig Newmark also added. Now 71 years old, he aims to give away all his wealth "to the nonprofit world" and help everyone live a better life, in the end.

Jennipher Stephan might not have a clear answer to the question in the title, but his book Cyberattacks and Cyberscams: Is There an End in Sight? is quite an interesting read. Sadly for Kindle users, only the hardcover version is available on Amazon. Its price currently sits at $32.20.