The founder of the Fintech Revolution firm, Nikolay Storonsky, will become one of the 10 richest entrepreneurs in Great Britain.
Bank Revolution based on applications is allowing employees to sell a part of their shares in the company, up to 20 percent, for $ 1,381.06 per share (around £ 1,034) in a secondary sale, which will value the business in total at $ 75 billion. Last year, the company was valued at $ 45 billion.
Mr. Storonsky has about 25 percent retention of the company, which means that its personal wealth will grow to more than $ 18 billion, which will put it in the 10 richest entrepreneurs in the United Kingdom.
The Bloomberg billionaire index classifies Sir James Dyson, the entrepreneur and inventor, as the richest on these coasts with a personal wealth of $ 19.5 billion. Sir Jim Ratcliffe, owner of INEOS and owned by Manchester United, is the following in the row of $ 16.2 billion according to his list.
Other sources that solve the multimillion -dollar wealth of different metrics place the imminent value of Storonsky below Sir Jim's, while individuals such as Lakshmi Mittal, president of one of the largest steel manufacturers in the world, is based on the United Kingdom, although they are born in India.
Therefore, there will be discrepancies in the precise range of Mr. Storonsky, himself born in Russia but resigned from his citizenship after the invasion of Ukraine, when it comes to the richest entrepreneurs in the United Kingdom. However, however, it will be inside the ranks of the top 10, and with the potential to go much higher.
As part of his package in Revolution, the founder will add more shares to his property if he directs the company to an assessment of $ 150 billion, twice the new level.
In the sale of employee shares, a spokesman said: “As part of our commitment to our employees, we regularly provide opportunities to win liquidity. A sale of secondary actions of employees is currently in process, and we will not comment more until it is complete.”
While Revolution does not yet have a complete banking license for the United Kingdom, it has a restricted one, which allows it to operate to be a complete bank during a “mobilization” phase.
Its valuation of around £ 56 billion makes it larger than the market capitalization of banks that are quoted in the stock market (£ 41.7 billion), the Lloyds group (£ 47.6bn) and Barclays (£ 51.6bn). Revolut is expected to float in the stock market in due time, although Storonsky suggested that New York, instead of London, better adjust to the company.
The annual profits in Revolution exceeded 1 billion last year, while earlier this year they announced an internal points system that contributes to employee bonuses, as well as an intention to enter the mobile phone operators market.
