A company can have thousands of shareholders without having thousands of people who actually influence its decisions. Reddit is a good example. The answer to who owns Reddit becomes much clearer once you separate economic ownership from voting control.
As of August 20, 2026, Reddit is a publicly traded company, Reddit, Inc., listed on the New York Stock Exchange under RDDT.
Advance Magazine Publishers is its largest disclosed strategic shareholder, while Reddit co-founder and CEO Steve Huffman has exceptionally strong voting influence through Reddit’s dual-class share structure and voting agreements.
So, if you are looking for one simple name, the answer is not “Condé Nast” or “Steve Huffman.” Reddit’s ownership is more complicated. Here is how the shares, voting rights, founders, Advance, and public investors fit together.
AI Overview: Who owns Reddit?
Reddit, Inc. is a publicly traded company whose Class A shares trade on the NYSE under RDDT. Advance Magazine Publishers is the largest disclosed strategic shareholder, with about 22% of Reddit’s outstanding Class A and Class B shares at December 31, 2025.
Steve Huffman, Reddit’s co-founder and CEO, has much greater voting influence than his direct economic ownership suggests. His May 2026 SEC filing estimated that he could be deemed to control about 70.7% of Reddit’s voting power under the filing’s stated assumptions.
That does not mean Huffman owns 70.7% of Reddit financially. Much of that voting influence comes from agreements covering shares held by Advance and other parties.
Key Takeaways
- Reddit, Inc. owns and operates the Reddit business and is publicly traded as RDDT.
- Advance Magazine Publishers was the largest disclosed strategic shareholder, holding approximately 22% of Class A and Class B shares at December 31, 2025.
- Steve Huffman is Reddit’s co-founder and CEO and has unusually high voting influence.
- A May 2026 SEC filing estimated Huffman’s voting influence at approximately 70.7% under its stated assumptions.
- Reddit uses Class A and Class B common stock, with one vote per Class A share and generally 10 votes per Class B share.
- Reddit completed its IPO in March 2024, making RDDT available to public-market investors.
- Economic ownership and voting control are not the same thing at Reddit.
Who owns Reddit?
Reddit is owned by its shareholders because Reddit, Inc. is a publicly traded company.
Advance Magazine Publishers is the largest disclosed strategic shareholder, with about 22% of Reddit’s Class A and Class B shares at December 31, 2025.
However, Steve Huffman has much greater voting influence through Reddit’s dual-class shares and voting agreements, with a May 2026 SEC filing estimating about 70.7% voting power.
Who Owns Reddit Today?
The most accurate answer is that no single person owns 100% of Reddit.
Reddit is a public company. Its shares are divided among public investors, institutional investors, insiders, and major legacy shareholders.
The largest disclosed strategic shareholder is Advance Magazine Publishers Inc., which held approximately 22% of Reddit’s outstanding Class A and Class B shares as of December 31, 2025.
That figure should be understood as an ownership snapshot from a specific date, not a permanently fixed percentage. Public-company ownership can change as shares are traded, converted, issued, repurchased, or otherwise transferred.
Is Reddit owned by Condé Nast?
Not in the simple sense of being a wholly owned Condé Nast subsidiary.
Reddit was acquired by Condé Nast in 2006. Today, however, Reddit is a separately traded public company, while Advance Magazine Publishers remains a major shareholder connected to the broader Advance corporate group.
That distinction matters because saying “Condé Nast owns Reddit” leaves out the company’s current public ownership structure.
Advance is a major shareholder, but Reddit itself reports as Reddit, Inc. and trades independently on the NYSE.
Who Controls Reddit’s Voting Power?
This is where the answer gets more interesting.
Reddit has a dual-class share structure. Class A common stock carries one vote per share, while Class B common stock generally carries 10 votes per share. Class B shares can also be converted into Class A shares under the company’s governing arrangements.
As a result, simply counting shares does not tell you who has the strongest voting position.
A person can own a relatively small percentage of Reddit’s economic equity while controlling a much larger percentage of shareholder votes.
Steve Huffman’s voting power
Steve Huffman is the central figure in Reddit’s current voting structure.
Huffman is Reddit’s co-founder, CEO, president, and a director. More importantly for ownership questions, he has voting agreements involving shares held by major shareholders.
His May 2026 Schedule 13D amendment states that, under the assumptions described in the filing, he could be deemed to beneficially own securities representing approximately 70.7% of Reddit’s total voting power.
That number needs careful interpretation.
Huffman does not personally own 70.7% of Reddit’s economic value. The SEC filing distinguishes between shares he directly owns and shares over which he has voting authority through agreements.
That is the key difference between ownership and control.
Reddit Ownership Structure Explained
| Holder or group | What it represents | Verified position |
|---|---|---|
| Advance Magazine Publishers | Major strategic shareholder | About 22% of Class A and Class B shares at Dec. 31, 2025 |
| Steve Huffman | Co-founder, CEO and major voting figure | About 70.7% estimated voting power in May 2026 filing under stated assumptions |
| Public Class A shareholders | Investors trading RDDT | One vote per Class A share |
| Other investors | Institutional, individual and legacy holders | Positions vary over time |
| Tencent | Former voting-agreement participant | Its Huffman voting agreement ended in 2026 |
The figures come from different reporting dates and should not be added together. The 22% Advance figure measures share ownership at December 31, 2025, while the 70.7% Huffman figure is a May 2026 voting-power disclosure.
What does Advance Magazine Publishers own?
Advance Magazine Publishers is the most important corporate shareholder to understand.
Reddit’s 2025 Form 10-K identified Advance as holding approximately 22% of the company’s outstanding Class A and Class B shares at the end of 2025.
Advance is associated with the privately held Advance corporate group, which also includes Condé Nast.
However, Advance’s economic ownership and Huffman’s voting authority are separate concepts. The voting agreement gives Huffman authority over certain Advance-held shares for shareholder voting purposes while Advance retains economic rights and investment/disposition authority.
Why Reddit’s Dual-Class Shares Matter
Imagine two shareholders owning the same number of shares.
If one owns Class A stock and the other owns Class B stock, their voting influence can be dramatically different.
A Class A share generally carries one vote, while a Class B share generally carries 10 votes. That ten-to-one difference is the foundation of Reddit’s concentrated voting structure.
Reddit’s IPO filing also showed how powerful the structure could be. Immediately after the offering, Class B holders were expected to retain approximately 97.1% of voting power, illustrating the difference between public ownership and voting control.
The structure can therefore protect existing control even as ordinary investors buy and sell RDDT shares.
How much Reddit stock is publicly traded?
Reddit’s publicly traded security is Class A common stock, listed on the NYSE under RDDT.
Reddit reported 139,649,508 Class A shares and 51,386,276 Class B shares outstanding as of February 4, 2026.
Those figures provide a useful snapshot of Reddit’s capital structure, but they should not be confused with the current ownership percentages of individual investors.
Reddit’s Ownership History
The current structure makes more sense when you look at how Reddit got here.
Reddit was founded in 2005 by Steve Huffman and Alexis Ohanian. The company’s IPO filing identifies Huffman as a co-founder and says the service went live in 2005.
In 2006, Condé Nast acquired Reddit. Over the following years, Reddit moved through a private, venture-backed period and raised money from additional investors.
Eventually, Reddit became a public company.
The IPO took place in March 2024, when Reddit listed its Class A common stock on the New York Stock Exchange under RDDT.
Reddit ownership timeline
| Period | Ownership position |
|---|---|
| 2005 | Founded by Steve Huffman and Alexis Ohanian |
| 2006 | Acquired by Condé Nast |
| 2010s–2023 | Private, venture-backed company with multiple investors |
| March 2024 | Reddit became publicly traded |
| December 2025 | Advance held about 22% of Class A and B shares |
| May 2026 | Huffman’s SEC filing estimated about 70.7% voting power under stated assumptions |
This history explains why Reddit does not fit the simple model of a founder-owned startup or a wholly owned media brand.
Did Tencent Own Reddit?
Tencent has been a Reddit investor, but its relationship with Reddit’s voting structure changed in 2026.
A May 2026 SEC filing confirmed that the Tencent voting agreement had terminated. The same filing described Huffman’s resulting voting position and estimated his voting influence at approximately 70.7% under the filing’s assumptions.
That filing does not, by itself, establish Tencent’s complete current economic ownership as of August 20, 2026.
Therefore, it would be inaccurate to turn the end of the voting agreement into a claim that Tencent either owns no Reddit shares or controls Reddit.
What About Alexis Ohanian and Sam Altman?
Two names often appear in older Reddit ownership discussions: Alexis Ohanian and Sam Altman.
Alexis Ohanian was one of Reddit’s original co-founders. However, the research available for this article does not provide a sufficiently current SEC ownership disclosure to state his exact Reddit stake as of August 20, 2026.
The same caution applies to Sam Altman. Historical reports identify him as an early Reddit investor, but the supplied current filings do not establish a precise August 2026 economic ownership percentage.
For a question about current ownership, a dated SEC filing is stronger evidence than an old ownership list.
Is Reddit a Public Company?
Yes.
Reddit, Inc. trades publicly on the New York Stock Exchange under RDDT. Public investors can therefore buy and sell its Class A common stock through the market.
That changed the nature of Reddit’s ownership.
Before the IPO, ownership was concentrated among founders, employees, Advance, and private investors. After the IPO, public-market investors became part of the company’s shareholder base.
Yet the IPO did not eliminate Reddit’s high-vote Class B structure.
Six Numbers That Explain Reddit’s Ownership
The numbers tell the story better than a long list of shareholder names.
- 2005 — Reddit was founded by Steve Huffman and Alexis Ohanian.
- 2006 — Condé Nast acquired Reddit.
- March 2024 — Reddit became publicly traded on the NYSE.
- 22% — Approximate percentage of Class A and B shares held by Advance at December 31, 2025.
- 70.7% — Huffman’s estimated voting power in his May 2026 SEC filing under its stated assumptions.
- $1 billion — Maximum Class A share repurchase authorized by Reddit’s board in February 2026.
Reddit also reported $2.2 billion in 2025 revenue, $530 million in net income, and 121.4 million daily active uniques in Q4 2025. Those figures do not determine ownership, but they show the scale of the public company whose shares investors are buying.
Three Things Most Ownership Lists Get Wrong
1. The biggest shareholder is not automatically the person in control
Advance’s approximately 22% shareholding makes it Reddit’s largest disclosed strategic shareholder in the cited annual report.
But Huffman’s voting agreement gives him extraordinary voting influence. So “largest shareholder” and “person with the most voting control” produce different answers.
2. 70.7% voting power is not 70.7% ownership
This is probably the easiest number to misunderstand.
The 70.7% figure comes from Huffman’s beneficial-ownership disclosure and reflects voting rights under specific assumptions. It should not be presented as though Huffman owns 70.7% of Reddit’s economic value.
3. A current answer needs a date
Public-company ownership changes.
Shares trade. Class B shares can convert. Investors file new ownership disclosures. Insiders can sell shares, and companies can repurchase stock.
Reddit’s February 2026 authorization for up to $1 billion of Class A repurchases is one example of a corporate action that could affect the share structure over time.
Practical Application: How to Check Who Owns Reddit
If you want to verify who owns Reddit on a particular date, do not rely on an undated shareholder article.
Start with Reddit’s latest SEC filings. The most useful documents include the annual report, proxy statement, Schedule 13D or 13G filings, Form 4 insider reports, and quarterly 10-Q filings.
Then check the reporting date.
A shareholder percentage from December 2025 is not automatically the shareholder percentage in August 2026. Likewise, a voting-power disclosure from May 2026 should not be described as an economic ownership percentage.
Finally, separate three questions:
- Who owns the shares?
- Who has voting rights?
- Who runs the company day to day?
For Reddit, those questions lead to different parts of the organization.
Who Should Use This Information?
This ownership framework is useful if you are researching Reddit stock, corporate governance, major shareholders, founder control, or the relationship between Reddit and Advance.
It is also useful when comparing Reddit with other public companies that use dual-class shares.
Who Should Avoid Simplified Ownership Lists?
Avoid any source that gives one percentage without a date or fails to explain whether the number represents economic ownership or voting power.
That distinction is especially important for Reddit because its dual-class structure makes the two numbers materially different.
Recent Reddit Developments That Matter
Reddit’s ownership structure has not existed in isolation.
On February 5, 2026, Reddit reported full-year 2025 revenue of $2.2 billion, up 69% year over year, and net income of $530 million. The company also reported 121.4 million daily active uniques in the fourth quarter.
On the same date, Reddit’s board authorized a repurchase program of up to $1 billion of Class A common stock. The authorization has no expiration date and does not require Reddit to repurchase a specific amount.
Then, on May 6, 2026, Huffman’s amended Schedule 13D disclosed the termination of the Tencent voting agreement and reported his estimated voting influence at approximately 70.7% under the filing’s stated assumptions.
These developments matter because Reddit’s ownership picture is not frozen. The underlying shares, voting agreements, and capital structure can change.
Can Reddit’s Ownership Change?
Yes.
A public company’s shareholder structure can change through ordinary market trading, insider transactions, conversions, new share issuance, repurchases, and changes to voting agreements.
Reddit’s 2026 events demonstrate why dated filings matter. The Tencent voting agreement ended, while the company also authorized a potential $1 billion Class A share repurchase.
That does not mean Reddit’s entire control structure has changed. It means the precise numbers should always be checked against the newest disclosures.
Who Owns Reddit? The Bottom Line
If you ask who owns Reddit, the cleanest answer is: Reddit, Inc. is a publicly traded company owned by its shareholders, with Advance Magazine Publishers as its largest disclosed strategic shareholder.
Advance held approximately 22% of Reddit’s Class A and Class B shares at December 31, 2025. But ownership is only half the story because Reddit’s dual-class structure gives Class B shares substantially greater voting power.
Steve Huffman is therefore the crucial name when you ask who controls Reddit’s shareholder votes. His May 2026 SEC filing estimated approximately 70.7% voting power under its stated assumptions, largely because of voting agreements and high-vote shares-not because he personally owns 70.7% of the company.
So the next time you see a simple claim that Reddit is “owned by Condé Nast,” “owned by Steve Huffman,” or “owned by Tencent,” the better question is: Are we talking about economic ownership, voting control, or historical ownership? That distinction is what makes Reddit’s ownership story understandable.
FAQ: Who Owns Reddit?
Who currently owns the majority of Reddit?
No single person is identified as owning a majority of Reddit’s economic shares. Advance Magazine Publishers was the largest disclosed strategic shareholder, with approximately 22% of Class A and Class B shares at December 31, 2025. Steve Huffman, however, had far greater voting influence through voting agreements and Reddit’s dual-class structure.
Is Reddit a publicly traded company?
Yes, Reddit, Inc. is a publicly traded company. Its Class A common stock trades on the New York Stock Exchange under the ticker RDDT. Reddit became publicly traded in March 2024.
Does Steve Huffman still own Reddit?
Steve Huffman remains a Reddit shareholder and its co-founder and CEO. His direct economic ownership is much smaller than his voting influence, while his May 2026 SEC filing estimated approximately 70.7% voting power under the filing’s stated assumptions.
Is Reddit owned by Condé Nast?
Reddit is not a wholly owned Condé Nast subsidiary today. Condé Nast acquired Reddit in 2006, but Reddit is now a separately traded public company, while Advance Magazine Publishers remains a major shareholder connected to the broader Advance corporate group.
Who is Reddit’s largest shareholder?
Advance Magazine Publishers was the largest disclosed strategic shareholder in Reddit’s 2025 annual report. It held approximately 22% of Reddit’s outstanding Class A and Class B shares as of December 31, 2025.
Does Tencent own Reddit?
Tencent has been an investor in Reddit, but its voting agreement with Steve Huffman ended in 2026. The May 2026 SEC filing confirms the termination of that agreement, but it does not by itself establish Tencent’s complete current economic ownership as of August 20, 2026.
Does Alexis Ohanian still own Reddit?
The available current filings used here do not provide enough evidence to state Alexis Ohanian’s exact Reddit ownership percentage as of August 20, 2026. He was one of Reddit’s original co-founders, but a current ownership claim requires a dated disclosure supporting it.
Can ordinary investors control Reddit?
Ordinary investors can own publicly traded Class A shares, but controlling Reddit’s shareholder votes is much harder. Class A shares generally have one vote each, while Class B shares generally have 10 votes each, concentrating voting influence among holders of high-vote shares and parties covered by voting agreements.
How can you verify who owns Reddit today?
The strongest sources are Reddit’s SEC filings and investor-relations disclosures. Look at the latest 10-K, proxy statement, 10-Q, Schedule 13D or 13G filings, and Form 4 reports, while always checking the date attached to each ownership figure.
