Revolut CEO could gain multibillion-dollar stake if valuation hits $150bn
Revolut CEO could gain multibillion-dollar stake if valuation hits $150bn

Revolut CEO could gain multibillion-dollar stake if valuation hits $150bn

News summary

Nik Storonsky, founder and CEO of Revolut, stands to earn a multibillion-dollar fortune through an incentive deal that could increase his stake in the fintech company by up to 10% if Revolut's valuation triples to $150 billion. This arrangement, structured similarly to Elon Musk's 2017 Tesla stock option package, would reward Storonsky with additional shares as Revolut hits higher valuation milestones, with the deal arranged before the company's significant 2021 funding round. Revolut, valued at $45 billion in late 2024, has more than doubled its pre-tax profit to $1.4 billion and expanded its offerings, including launching an ATM network, a mobile plan, and plans for a stablecoin, private banking, AI assistant, mortgages, and business credit products. The deal echoes Musk's controversial $56 billion Tesla package, which faced legal challenges and was eventually voided by a judge due to concerns over board independence and fairness. Revolut has become Europe's most valuable private fintech company with over 52 million active customers, surpassing major UK lenders, and continues to grow its crypto exchange and other financial services. This incentive deal highlights Storonsky's growing influence and the fintech's ambition to reach new market heights while drawing attention for its Musk-style compensation structure.

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