Revolut, the digital bank, is reportedly in discussions to award its founder, Nik Storonsky, a new incentive deal. This potential pay package is linked to Revolut achieving a $500bn valuation.
Storonsky already has an existing package that provides pay increases as Revolut reaches higher valuation milestones. He stated in a December interview that his current deal could result in a 40% holding of Revolut if it reaches a $200bn valuation, which could be worth approximately £57bn.
Revolut is currently conducting a secondary share sale, which seeks to value the company at $115bn. Last year, the fintech secured a $75bn valuation after investment from Nvidia.
Reports of a new package follow Storonsky's rise in Britain's wealth rankings. He climbed 20 places to seventh on the Sunday Times Rich List, with his wealth recorded at £16.4bn.