Tech has become a launchpad for founders to quickly gain 10-figure net worths, with the likes of Scale AI’s Lucy Guo and Alexandr Wang skyrocketing to billionaire status just a handful of years after creating their innovations. But others have been forced to play the long game to see the jackpot. Take Steve Huffman: Two decades after cofounding Reddit, the CEO has finally made it to the ultra-rich club.
Huffman’s net worth just soared to $1.2 billion after Reddit’s recent victorious earnings report. 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. Reddit’s stock closed out at $208.95 on Friday, 7.5% higher than the day before, and up 75% from the previous year.
