The official line at Craigslist and from Craig is that Craig just works there (and owns roughly half the company). Jim's the boss.
Given his ownership share (slightly less than half IIRC given the split between him and Jim and shared held by eBay), that's a slightly disingenuous party line.
"Disclosure: Craig Newmark, founder of craigslist, is a member of EFF’s Advisory Board, and craigslist has donated to EFF."