Revolut founder sells off 230m worth of shares [Video]

Revolut founder and chief executive Nik Storonsky has sold a chunk of shares worth as much as £230m, writes Leah Montebello.

Just weeks after securing its long-awaited banking licence, the Russian-born billionaire offloaded the stock in an employee secondary share sale.

The shares accounted for between 40% and 60% of the stock sold in August, according to reports.

That means he sold somewhere between £153m and £230m of his holding in the London-based app. But this is just a small portion of his overall stake, estimated to be worth around £6bn.

Several thousand employees took part in the share sale, according to Sky News. Revolut declined to comment.

Last month the company was valued at £35bn – more than Barclays and NatWest – and is Europe’s most valuable start-up.

It waited three years for a UK banking licence after auditors said they could not verify the 2021 accounts, prompting Storonsky to attack the UK as a …