Revolut founder Nik Storonsky in line for Elon Musk-style payout
The Revolut founder Nik Storonsky could be rewarded with an Elon Musk-style shares jackpot worth billions of dollars if he manages to treble the valuation of the London-based digital bank.
An incentive deal struck years ago is due to trigger a gigantic payout if the valuation of Revolut mushrooms from the present $45 billion to $150 billion, the Financial Times reported.
The terms mean that Storonsky could be handed additional shares worth as much as 10 per cent of the entire company, it said. He owns a stake of about 25 per cent.
Such payouts can be controversial as they significantly dilute other shareholders. A planned $56 billion shares payout to Musk by his electric car business Tesla was last year declared null and void by a Delaware court, though the company is appealing against that judgment.
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