Revolut CEO, London Staff Set for $75bn Share Sale Payout

Revolut has launched a secondary share sale valuing the fintech company at $75 billion, a significant increase from its $45 billion valuation last year, allowing London-based employees to sell up to 20% of their holdings. This valuation boost positions Revolut's founder and CEO, Nik Storonsky, to join the ranks of the UK's ten richest businessmen, with his stake potentially worth over $18 billion. Storonsky’s remuneration package is structured with incremental pay increases linked to company valuation milestones, potentially increasing his shares to 10% of the firm if Revolut reaches a $150 billion valuation. Revolut has opted to remain private amid subdued public markets, with Storonsky critical of a London IPO, citing better liquidity overseas and frustrations over UK bureaucracy in obtaining a full banking licence. The secondary share sale enables Revolut to attract new investors without issuing new stock, while employees benefit from liquidity opportunities alongside other workplace perks. The fintech’s growth is underscored by a 150% profit increase in 2024, driven by subscriptions and revenues from wealth and crypto trading divisions.