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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.
Cashing in: Revolut founder and CEO Nik Storonsky sold shares worth up to £230m in a secondary share sale to employees
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
Storonsky to attack UK as a place to do business
The licence means Revolut can retain customer deposits and offer new products such as credit cards, personal loans or mortgages.
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