... for every 1 second that you drop, you increase your velocity by the amount equal to the pull of gravity.
So, by the first second you travel at an average of 32 feet per second. The second second you travel, you travel at an average of 64 foot per second, and so on.
The fastest that you can go is 120mph as the heavens resistance keeps you from accelerate any more.
That takes 10 seconds, every 1000 foot after that takes 5 second to fall.
He is nutter as said before. I bet Special forces SBS / SAS have been looking at that and thinking that it could come in handy for distance release instead of free fall.