Alexis Kerry Ohanian was born on April 24, 1983, in Brooklyn, New York. His grandparents fled to the United States as refugees following the Armenian Genocide. Ohanian attended Howard High School in Ellicott City, Maryland, where he delivered the student address at his graduation in 2001. He then pursued higher education at the University of Virginia, majoring in commerce and history, and graduated in 2005.
Founding Reddit and Early Career
Ohanian’s journey to tech stardom began at the University of Virginia, where he met Steve Huffman. Together, they pitched an idea for an online food ordering app, MyMobileMenu, to Y Combinator. Although the idea was rejected, Y Combinator encouraged them to develop another concept, leading to the creation of Reddit in 2005. Reddit, initially dubbed the “front page of the internet,” became a significant success. The platform was part of Y Combinator’s first batch of startups and quickly gained traction, leading to its acquisition by Conde Nast in 2006 for a reported $10-20 million.
Ohanian remained involved with Reddit, returning full-time in 2015 alongside Huffman to guide the independent company. However, in 2018, he stepped back to focus on venture capital and other interests. He also resigned from Reddit’s board in 2020, advocating for his replacement by a Black candidate, which led to Michael Seibel joining the board.
Venture Capital and Investments
Ohanian’s career as an investor is equally impressive. In 2010, he co-founded Initialized Capital with Garry Tan. Initialized Capital has been instrumental in the early-stage funding of several successful startups, including Instacart, Zenefits, Cruise, and Coinbase. By 2024, Initialized Capital managed over $3 billion in assets, reflecting its significant impact on the tech investment landscape.
In 2020, Ohanian launched a new venture capital firm, 776, after stepping down from Initialized Capital. His investment portfolio includes notable companies like Kinside, Dispo, Pearpop, and social startup initiatives that emphasize inclusivity and diversity in the tech industry.
Advocacy and Public Influence
Beyond his entrepreneurial ventures, Ohanian is known for his advocacy for an open internet. He played a crucial role in the campaigns against the Stop Online Piracy Act (SOPA) and the PROTECT IP Act (PIPA), helping to organize national protests that eventually led to the bills’ defeat. His efforts earned him the title of “Mayor of the Internet” from Forbes and recognition as one of the top 10 most influential activists by The Daily Dot in 2012.
Ohanian’s activism extended to net neutrality, where he lobbied the FCC and Congress to support policies ensuring an open and free internet. His work in this area further solidified his reputation as a significant figure in tech advocacy.
Personal Life and Public Persona
In addition to his professional achievements, Ohanian is known for his personal life, particularly his marriage to tennis superstar Serena Williams. The couple got engaged in 2016, married in 2017, and welcomed their daughter, Alexis Olympia Ohanian Jr., in the same year. Ohanian’s support for Williams and his role as a father have been widely covered, showcasing his commitment to family and work-life balance.
Ohanian has also authored a book, “Without Their Permission: How the 21st Century Will Be Made, Not Managed,” which became a Wall Street Journal bestseller. He has hosted online series and podcasts like “Small Empires,” “Business Dad,” and “Upvoted,” where he shares insights on startups, entrepreneurship, and personal growth.
Net Worth and Financial Success
As of 2024, Alexis Ohanian’s net worth is estimated to be approximately $150 million. This wealth is derived from his successful ventures in tech, investments through Initialized Capital and 776, and various other entrepreneurial activities. His strategic investments in cryptocurrencies like Ethereum have also significantly contributed to his net worth, with his early investment in Ethereum reportedly worth up to $230 million at its peak.
Conclusion
Alexis Ohanian’s journey from co-founding Reddit to becoming a prominent venture capitalist and advocate for internet freedom is a testament to his vision, resilience, and strategic acumen. His net worth of $150 million in 2024 reflects his success and influence in the tech industry. Ohanian continues to inspire with his commitment to diversity, open internet advocacy, and innovative entrepreneurship. His story is a powerful example of how one can leverage opportunities, drive change, and make a lasting impact in the world of technology and beyond.
