Revolut founder and CEO Nik Storonsky sells £230m worth of shares

Revolut founder and CEO Nik Storonsky has sold a portion of his shares valued at up to £230m.

Just weeks after obtaining his long-awaited banking license, the Russian-born billionaire offloaded the shares in a secondary stock sale among his employees.

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

That means it sold between £153 million and £230 million of its stake in the London-based app.

But this is only a small portion of his total holding, which is estimated to be worth around £6bn.

According to Sky News, several thousand employees were involved in the share sale.

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.

He waited three years to obtain a banking license in the UK after auditors said they could not verify the 2021 accounts, prompting

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The licence means Revolut can retain customer deposits and offer new products such as credit cards, personal loans or mortgages.