Reddit, the famous social media site, has started trading publicly after its first sale of stocks, which is a big step in the company’s journey. But, Reddit’s CEO, Steve Huffman, is facing criticism because he earned $193 million in 2023. This was revealed in the company’s filing with the U.S. Securities and Exchange Commission (SEC).
People are talking about Huffman’s huge pay, especially when you compare it to other social media CEOs. For example, Mark Zuckerberg from Meta and Evan Spiegel from Snap earn only $1 as their base salary. Huffman’s pay is even higher when you look at other things. In February, his salary went up to $550,000, which has made things even more controversial, especially because he owns a lot of Reddit stock.
This big difference in CEO pay is making people wonder. Huffman might earn even more money when he sells shares during Reddit’s IPO. But, even with all this criticism, Reddit’s IPO is getting a lot of interest. Current investors are planning to sell shares valued between $31 and $34. As Reddit starts trading publicly, everyone is watching to see how it does and how Huffman’s pay affects what investors think.
