Revolut CEO Nik Storonsky will enjoy a multi-billion dollar payday if he more than triples the company’s valuation to $150bn, reports say.
Europe’s most valuable private tech company, fintech giant Revolut achieved a $45bn price tag following a secondary share sale last August. Behind the scenes, investors are said to have pushed for another secondaries sale, which would have valued the company at $60bn.
On Monday, the Financial Times reported details of an outsized incentive deal signed by Storonsky, citing several people familiar with the deal, which would increase the founder’s stake in Revolut by “several percentage points” — as much as another 10% of the company — if certain goals were met.
The deal has been structured such that the amount would be paid out in stages when certain valuation targets were met, one person interviewed by the FT said. Others likened the agreement to tech magnate Elon Musk’s controversial $56bn Tesla pay package, which has been the subject of a long-running legal battle over alleged conflicts of interest.
According to Companies House filings, Storonsky acquired more Revolut shares in May, giving him a 25% stake in the business. He previously sold some of his shares in last year’s secondaries sale.
Revolut — which has 50m customers and announced pre-tax profits of £1.1bn in 2024 — has plans for a flurry of new products this year, including banking services for the rich, a rewards credit card and mobile phone plans in the UK and Germany.
Sifted approached Revolut for comment.