American Entrepreneur Steve Huffman net worth is $12 Million USD. Steve Huffman is the co-founder and the present CEO of Reddit. Reddit is a popular social news and discussion platform founded in the year 2005. Reddit is one of the most popular websites in the world and is ranked among the Top 20 Websites in the World. In this article, we will look into Steve Huffman net worth and his income details like how he makes his money. Before that, let us have some brief information about him.
Brief Information about Steve Huffman
|Date of Birth||12 November 1983|
|Occupation||Chief Executive Officer, Co-Founder|
|Net Worth in EUR||€11.4 Million EUR|
|Net Worth in USD||$12 Million USD|
Steve Huffman is an American Entrepreneur and Businessman. He is the co-founder and the current CEO of the popular social news and discussion platform Reddit. Steve Huffman was born on 12 November 1983 in Lansing, Michigan, United States. Steve Huffman is now 38 years old.
Steve Huffman founded Reddit when he was in College with his dorm roommate Alexis Ohanian. Steve Huffman was just 22 years old when he founded Reddit. Reddit is now ranked among the Top 10 Websites in the World in terms of daily users. Steve Huffman got married to Katie Babiarz in the year 2009 when he was 26 years. He got divorced from his wife after some years.
Steve Huffman net worth is $12 Million USD which is equal to €11.4 Million EUR. He is one of the richest and most successful online entrepreneurs. Steve Huffman is not only the co-founder and CEO of Reddit but is also the founder of Hipmunk which is a search engine, but it is now shut down due to unknown reasons. Steve Huffman net worth has grown massively over the past few years and we will have a look at how his net worth and income grew over the past few years.
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Steve Huffman Net Worth and Income Details
Steve Huffman net worth is $12 Million USD or €11.4 Million EUR and with the success of Reddit, his net worth and income has grown drastically over the years. Let us have a look at how Steve Huffman net worth grew over the past 5 years.
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Steve Huffman Net Worth Growth
|Year||Net Worth in USD||Net Worth in EUR|
|2021||$12 Million USD||€11.4 Million EUR|
|2020||$10 Million USD||€9.5 Million EUR|
|2019||$9.5 Million USD||€9 Million EUR|
|2018||$8 Million USD||€7.6 Million EUR|
|2017||$6.7 Million USD||€6.3 Million EUR|
Steve Huffman net worth saw decent growth in the last few years after he took over the position of CEO of Reddit. Steve Huffman net worth in 2017 was around $6.7 Million USD or €6.3 Million EUR but at the end of 2021, Steve Huffman net worth was around $12 Million USD which is equal to €11.4 Million EUR approximately. In the last 5 years, Steve Huffman net worth saw a major growth of $5.3 Million USD, approximately €5.4 Million EUR.
It can be estimated that, by the end of 2022, Steve Huffman net worth will be more than $14 Million USD or much more.
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Steve Huffman Income Details
Steve Huffman earns more than $200,000 USD per year as the CEO of Reddit. Steve Huffman is surely not one of the well-paid CEO of a company but he earns enough to have a multi-million net worth. Steve Huffman also has many decent investments through which he earns his wealth. But his main source of income comes from Reddit and the position he holds in the company. Steve Huffman has also invested in many different companies like Meadow, Torch, Dapper Labs, Agora, Fathom Video, etc. All these investments are a good source of income for him.
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More Information about Steve Huffman
Steve Huffman Education
Steve Huffman did his early schooling in Michigan, United States. After that, he moved to Virginia where he continued his education and got graduated from the Wakefield School in Virginia in 2001. IN 2005, he graduated from the University of Virginia with a degree in computer science.
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Steve Huffman Profiles
Steve Huffman Career
When Steve Huffman was at the University of Virginia studying Computer Science, he met Alexis Ohanian who became his roommate. Together they founded Reddit in the year 2005. Alexis Ohanian is the husband of the famous Tennis Star Serena Williams.
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Steve Huffman and Alexis Ohanian didn’t plan to start Reddit, instead, they had a different startup plan on which they were working. Steve Huffman and Alexis Ohanian planned to launch their startup My Mobile Menu through which users could order food using SMS. To pitch their idea, they both went to Boston to meet Paul Graham who was already a successful internet entrepreneur.
When Steve Huffman and Alexis Ohanian pitched their My Mobile Menu idea to Paul Graham, he rejected the idea. He instead offered them a second to pitch a different idea. The idea of creating Reddit was first suggested by Paul Graham as the “Front Page of the Internet”. Since then, Reddit has been popularly known as the “Front Page of the Internet”.
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Steve Huffman later coded the entire website and finally in June 2005, he and Alexis Ohanian launched Reddit. Reddit was initially funded by Y Combinator, a company owned by Paul Graham.
After launching Reddit, the site grew quickly and by August 2005, the site was getting hundreds and thousands of visitors every month. Reddit was performing better than their expectations. This attracted a lot of investors who were ready to invest in Reddit. Steve Huffman and Alexis Ohanian decided to sell the company to Conde Nast on 31 October 2006 right after a year of its launch. Conde Nast acquired Reddit for a total of $20 Million USD. After selling Reddit, Steve Huffman was associated with Reddit as an acting CEO, until he left that position in 2009.
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After earning some money with Reddit, he started traveling and backpacking in Costa Rica where he met Adam Goldstein, and together, they founded Hipmunk, a travel website helping travelers and backpackers. Hipmunk was also funded by Paul Graham’s Y Combinator. Hipmunk also grew out to be one of the biggest travel websites.
Steve Huffman returned to Reddit in the year 2015 after the former CEO Ellen Pao left the position. Steve Huffman was appointed as CEO to handle the situation cause Reddit was in a very bad situation at that time. Steve Huffman came up with a plan to improve the mobile experience of the website by launching their own ios and android apps. He also improved the mobile version of the website.
Steve Huffman net worth has grown with the growth of Reddit in the past few years since the launch of the Reddit app for the ios and android devices.
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Steve Huffman Controversy
In 2016, Huffman was in controversy after a user posted some evidence where the Reddit Moderators were found messing with the user comments in the subreddits. Steve Huffman took the responsibility for the modifications of the comments.
In 2020, Steve Huffman published an open letter on Reddit as “Remember to be Human – Black Lives Matter”. This letter was called out by the former Reddit CEO Ellen Pao on her Twitter handle. Following all these controversies, Alexis Ohanian who was serving as the director of the company resigned from his position on 5 June 2020 and asked the Reddit authorities to appoint a black person as the director of the company.
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