He’s been quoted saying it was a mistake to only get $15 mil when they sold reddit the first time. I bet he has a ton of stock options tied up in this and just wanted to cash out as much as he could now and be done. His greed (and mouth) probably got the better of him and it’ll end up costing him. He’ll still get richer from the IPO, reddit will be around for years and is valuable to advertisers, but he had a shot at being a billionaire if he played his cards right, that’s pretty unlikely now.