“He added that he plans to make changes to moderator policies so users can vote them out. Currently, a higher-ranking moderator — or the company — can boot out moderators. Incidentally, a r/Apple moderator posted on Twitter (via 9to5Mac) that Reddit was threatening to remove moderators who are staging an indefinite blackout.”
He no doubt has a golden parachute contract that means he’ll make bank regardless of what happens. Either the IPO is successful, and he gets money, or reddit fires him (and lays all the blame on him) and he gets money.