This article will be focused on Alexis Ohanian’s net worth and how he has earned it in business.
Ohanian is mostly known as Reddit’s co-founder, but thanks to his Initialized Capital venture capital fund, he has also funded many other startups.
We will examine the sources of his income and the growth of his finances over the years.
What Is Alexis Ohanian’s Net Worth?
Alexis Ohanian is also an American businessman specializing in technology whose net worth is around 150 million dollars.
In 2005, together with Steve Huffman, they launched the Reddit platform and sold it to new owners. 2006, they sold it to Condé Nast, offering an estimated $10m-20m.
Later in the future, when Reddit applied for an IPO around February 2024, and according to SEC filings, Ohanian did not own a significant stake of over 5 % in the company.
The documents also stated that Deutsche Post AG CEO Steve Huffman possessed approximately 3 per cent of Reddit stock, primarily from stock awards in 2023, while Sam Altman held an 8.7 per cent stake in Cos. For some reason, Ohanian’s name was missing in the filing.
Outside of being a co-founder of reddit.com, Ohanian is famous for marrying tennis player and legend Serena Williams and being a venture capitalist.
He has supported projects such as Coinbase, Instacart, and Opendoor by his company, Initialized Capital. Initialized was one of the earliest investors in the crypto tradeshow building monopoly, Coinbase, and invested $200,000 into the venture in 2012.
However, the company is reported to manage $3.2 billion worth of assets today.
| Attribute | Details |
|---|---|
| Net Worth | $150 Million |
| Age | 41 |
| Born | April 24, 1983 |
| Gender | Male |
| Height | 1.96 m (6 ft 5 in) |
| Country of Origin | Canada |
| Source of Wealth | Entrepreneur |
Early Life
Alexis M.O. Ohanian was born on 24 April 1983 in Brooklyn, New York, to parents Anke and Chris Ohanian. He was born to grandparents who were immigrants to America after the Armenian genocide.
He graduated from Howard High School in Ellicott City, Maryland, where he was the student speaker during the 2001 graduation ceremony. 2005 Ohanian earned his undergraduate degree in Commerce and History from the University of Virginia.
It was also when he became interested in business and the internet he joined the co-ed professional business fraternity Alpha Kappa Psi at the University.
Real and Property Appraisal
Brooklyn’s Advanced Household Apartment
In Ohanian’s case in 2011, he bought a two-bedroom, 1,385-square-foot property in Brooklyn Heights for 1.245 million dollars.
This unit has been rented out for 7500 dollars a month since 2016 before Alexis opted to sell it out.
In May 2022, he sold the apartment for two hundred thousand dollars more than he had advertised. It was picked up at 2.05 million dollars in December of that same year.
Ohanian went on to start several Internet companies after finishing his university studies.
Together with Steve Huffman, Alexis conceived the concept of My Mobile Menu for Y Combinator. Y Combinator rejected the idea but strongly urged the two to develop their next idea.
In 2005, he and Steve launched Reddit, a social news platform allowing registered users to comment on and rate content uploaded by other users.
Reddit launched in the summer of 2005 as part of Y Combinator’s first batch of companies.
A year later, it was sold to Conde Nast for somewhere between $10 to $20 million; the exact figure is undisclosed.
Ohanian had a close relationship with Reddit while being a director of its board. In July 2015, he rejoined the company, along with Huffman, that he co-founded to run the now fully-owned business.
In February 2018, he announced he was stepping away from Reddit to focus on his investment endeavours. He also resigned from the board of directors of Reddit Inc. on June 5, 2020,
They were asking to replace him with a black person due to the murder of George Floyd. And a week later, on June 10, 2020, a black entrepreneur, Michael Seibel, became the director of the Reddit board of explorers.
Personal Life
In October 2015, claims that Alexis “Alex” Ohanian was dating professional tennis player Serena Williams became rampant.
In addition, on December 29, 2016, it was revealed that Serena and Alexis were lovers who somehow managed to stay under the radar for just over a year before announcing their engagement.
They married in November 2017 and, in September, welcomed their daughter into the world. In early 2023, publicists announced an addition to the family. They now normally live in Florida.
In 2011, Mrs. Alexis Ohanian went house hunting in Brooklyn and found a condo, which she bought at a whopping purchase order of $1.245 million. He put it up for sale in 2022 for 2.3 million.
Conclusion
In summary, throughout the years, Alexis Ohanian, the co-founder of Reddit, has made an impressive net worth of nearly $100 million.
Drawn by his entrepreneurial instincts, Ohanian has gone beyond the successes achieved with Reddit, as his investments in different startups through Initialized Capital have also put him in the upper ranking of business persons in the tech world.
The preceding, coupled with the fact that Ohanian has continued to be active and relevant in the field of entrepreneurship and venture capital, is evidence that he adapts to changes in the industry and is still thriving.
