Because
multiple inheritance makes resolving access to data at compile time much more complex.
Traditional compilers transform access to static variable (by name) to access to data at given offset from the address of the object (or structure).
Regular inheritance add instance variables further away from the object address, so all compiled inherited methods work naturally - they still find their data at the same offsets.
Now imagine you inherited from two classes with instance variables. They both have methods that use variable at the same offset - say the first of the instance variables. Yet only one of those instance variables can be placed at that offset.
Multiple inheritance from data-bearing classes means the methods have to locate instance variables through some kind of reference table rather than by offsets - and that slows execution quite a bit. Not the end of the world, that's what dynamic languages like Python do - however that's not what they wanted from Java.