Revolut CEO Nik Storonsky Moves Residency to UAE

Nik Storonsky, Revolut’s co‑founder and CEO, changed his residency from the UK to the United Arab Emirates, a move recorded as effective October 2024 in family office and Companies House filings. The relocation follows the UK government’s scrapping of the non‑dom tax break and other tax changes and is part of a broader exodus of thousands of company directors and wealthy individuals. Estimates of Storonsky’s wealth vary, with Forbes valuing his stake at roughly $7.9–8bn while other reports put his net worth nearer $14bn after recent secondary share sales and higher valuations. Revolut is pursuing fresh fundraising and a possible dual listing while accelerating global expansion — planning to enter dozens of new markets, target 100 million users and commit multibillion‑dollar investments — and has opened a London global HQ while securing initial regulatory approvals and hires in the UAE. The company previously pledged significant UK investment (reported at about £3bn) and plans to create roughly 1,000 UK jobs, and says the UK remains a priority even as it seeks full banking authorisation under close government and regulator scrutiny. These developments underscore tensions between Revolut’s global growth ambitions and Britain’s shifting tax and regulatory environment.