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Craigslist founder donates $50,000 to fund scholarship for public service

Ten students from the University of San Francisco's public-service program will each receive a $5,000 scholarship.

Craigslist mastermind Craig Newmark.
Craigslist mastermind Craig Newmark.
Bryan Bedder/Getty Images

Craigslist founder Craig Newmark has donated $50,000 to the University of San Francisco's "USF in D.C." program, which is "dedicated to inspiring and preparing students for careers of ethical public service," the university said Thursday.

The money will be distributed among 10 students, with each receiving $5,000 for the 2016-2017 academic year. Students participating in USF in D.C. must complete a full-time internship. Some of these internships include positions with the White House Office of Public Engagement, the U.S. Department of Education and the Sierra Club.

Newmark has long been involved with the program's sponsor, USF's Leo T. McCarthy Center for Public Service and the Common Good, where he's served as an advisor and board member. And in 2009, he delivered the commencement address at USF's School of Management.

Newmark founded Craigslist in 1995. The website lets people buy and sell items, connect with other users, and post job listings -- all for free. In 2010, his net worth was estimated at about $400 million, and a year later he launched the philanthropy offshoot craigconnects.