Sam Altman, CEO of OpenAI, currently holds a stake in Reddit valued at more than $1 billion following a post-market surge on Tuesday. Reddit’s stock climbed 20% after the company’s quarterly report surpassed analyst expectations and forecasted a positive outlook. CNBC reports that Altman’s 12.2 million shares, originally purchased over a decade ago, are now worth approximately $1.2 billion at Reddit’s after-hours share price of $98.
Altman, previously known for his role as president of Y Combinator, has invested in major tech companies including Airbnb, Uber, Instacart, Stripe, and Asana. However, his Reddit investment stands as one of his most lucrative ventures. Reddit went public in March at $34 a share, positioning Altman among its largest shareholders alongside Condé Nast parent Advance Magazine Publishers, Tencent, and Fidelity. Altman’s 2021 investment of $60 million in Reddit, spread over two funding rounds, now yields significant returns.
Altman remains one of Reddit’s major shareholders, especially after the expiration of the six-month lockup period for top investors in September. While there is no indication that Altman has sold any of his shares, his financial influence continues to grow, highlighted by his extensive involvement in transformative tech ventures like OpenAI.
Under Altman’s leadership, OpenAI recently closed a funding round valuing it at $157 billion. The company expects $5 billion in losses on $3.7 billion in revenue this year, but Altman clarified to employees that he has no plans to secure a large equity stake in OpenAI. Altman’s continued engagement in high-growth companies signals his expansive impact across multiple tech sectors.
