Revolut Founder Sells Shares Worth Up to $300 Million

Nik Storonsky, the billionaire founder and CEO of Revolut, sold shares worth between $200 million and $300 million during a secondary share sale designed to provide liquidity for employees. This sale, which involved 40% to 60% of the stock offered, valued Revolut at $45 billion, reinforcing its position as Europe's most valuable private technology company and one of the UK's largest banks. Despite the significant sell-off, Storonsky retains a stake in the company estimated at around $8 billion. The sale allowed several thousand employees to benefit from the company's success, with investors like Coatue and D1 Capital Partners participating. This transaction followed the recent acquisition of a long-awaited UK banking license, which enhances Revolut's growth potential. Revolut reported record earnings of £438 million in 2023, driven by a surge in customer growth and higher interest rates.