Reddit’s CEO Becomes Billionaire 20 Years After Founding
Steve Huffman co-founded Reddit in 2005 alongside his college roommate Alexis Ohanian with just $12,000. After two decades at the helm, Huffman has now reached billionaire status as Reddit’s CEO.
Growth and Profitability Milestones
Reddit recently reported a net income of $163 million, marking its fifth consecutive profitable quarter since going public in March 2024. This strong financial performance has driven the company’s stock price to close at $208.95, a 7.5% increase from the previous day and up 75% compared to the previous year.
Industry Context
While some tech founders like Scale AI’s Lucy Guo and Alexandr Wang have rapidly gained billionaire net worths, others like Huffman have achieved this success through steady, long-term growth.
About the Reporter
Emma Burleigh is a Fortune reporter specializing in success, careers, entrepreneurship, and personal finance. She holds a joint master's degree from New York University in Global Journalism and East Asian Studies and has contributed to multiple publications.
“Two decades after cofounding Reddit, the CEO has finally made it to the ultra-rich club.”
“Last Thursday, the company announced it reeled in a net income of $163 million—its fifth consecutive quarter of profitability since going public in March 2024.”
Author's summary: Steve Huffman's steady leadership over 20 years transformed Reddit into a profitable public company, earning him billionaire status through consistent long-term growth rather than rapid early gains.
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