OpenAI CEO Sam Altman's Reddit stake increased to $613M after Reddit's IPO, with shares rising 48%.

OpenAI CEO Sam Altman's Reddit stake increased by $200M to $613M after Reddit's IPO debut, with shares rising 48% in NYSE trading. Altman, a significant Reddit investor, holds a 7.6% stake in the company and is restricted from selling Reddit shares for six months during a lockup period. Reddit's stock skyrocketed during its Wall Street debut, reaching a nearly $9 billion valuation within seconds of trading on the New York Stock Exchange.

March 21, 2024
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