Nineteen years since its founding, the social media site is finally going public.

Reddit Files to Go Public, Reveals That It Paid CEO $193 Million Last Year::Nineteen years since its founding, the social media site is finally going public.

  • Faceman🇦🇺@discuss.tchncs.deEnglish
    44·
    10 months ago

    I mean, Fuck Spez and Reddit and all but the article is clickbait, he was paid about $370k salary plus a bonus and the vast majority was shares.

    Dont invest in reddit, heck I’d even say bet against them, short them, They are just seeking a buyout from one of the big tech firms and want it out of their hands.

    • ShepherdPie@midwest.socialEnglish
      90·
      10 months ago

      How is that clickbait? Calling income “a bonus” doesn’t mean it isn’t money being paid out by the company. When my company gives me shares, it’s still income that I pay taxes on because it’s something with a tangible value that can be easily converted into cash.

      CEO salary being a small fraction of their total compensation is extremely common because wages are taxed higher than everything else. They structure it like this to avoid taxes. Bill Gates and Mark Zuckerberg were/are paid $1 per year base salary and they’re two of the wealthiest people on the planet.

      • Faceman🇦🇺@discuss.tchncs.deEnglish
        21·
        10 months ago

        Sure, but the stock is illiquid until after the IPO, and its current value is only based on the value estimate given for the purpose of the IPO.

        He will still make bank unfortunately, but its not unusual for new IPOs to give stock options to CEOs with ridiculous values that don’t really mean anything until the stock is publicly trading and a true value is established by the market.