From Quartz:

Sam Altman, the OpenAI CEO and major investor in Reddit, saw the platform’s value soar near $10 billion on its first day of trading. Altman’s stake in Reddit has surged 56%, or around $30 million, since its IPO. Altman and affiliated companies own about 12 million shares, with Altman personally owning 1.7 million.

Despite concerns about volatility from meme-stocking members, Reddit’s IPO performance has been exceptional. The company’s share price was 56% higher than its IPO price of $34 as of midday Monday. Reddit’s positive debut, alongside other successful IPOs, signals a resurgence in the IPO market.

Key figures include Reddit’s fully diluted value of $9.97 billion, Altman’s $60 million investment in 2021, and his 9% voting power in Reddit. Altman personally owns approximately 1.7 million shares of Reddit stock, which has surged 56% from its IPO price of $34.



Read more at Quartz: OpenAI’s Sam Altman makes $30 million from Reddit IPO