My theory is that he died. I'm ashamed to admit I hope he made it. The man had balls.
It doesn't seem likely that he would have been able to meet up with an accomplice. Navigation, timing, etc, would have been too hard.
If he came down in the water, its almost certain that he either drowned or died of exposure given the temperature and his equipment.
The terrain is not an ideal DZ, with the giant trees and mountains and all.
With luck, the jump was do-able. Skydivers have done it since then. The search was started late, and the terrain doesn't help the searchers either.
No one ever found a body and only a small part of the money was recovered when it washed up a few years later.
None of the bills ever showed up in circulation as far as anyone knows. The show I saw today mentioned that the Federal Reserve wasn't automated then, so it was possible they could have slipped through. I'm not sure I buy that one.
With the jump being so hard and the money never showing up, it gives the impression that he never made it. Then there is the money that washed up.