Revolut is Discussing a $500 Billion Founder Award Before…

Revolut is holding early discussions about a new share award for co-founder and chief executive Nikolay Storonsky that would be triggered by a $500 billion company valuation, according to the Financial Times, which cited people familiar with the matter. The talks come as the London-based fintech targets an initial public offering at a valuation of up to $200 billion, roughly 1.7 times the $115 billion valuation it recorded in a secondary employee share sale completed on 22 July 2026 at $2,017 per share.

Under Storonsky’s existing incentive plan, his stake in Revolut rises from about 29% to 40% once the company reaches a $200 billion valuation, making his holding worth around $80 billion. The proposed new award would add another tranche on top, payable only at a $500 billion valuation, or 4.3 times the company’s most recent price. That price has risen quickly: the $115 billion figure was 53% higher than the $75 billion valuation set in November 2025 and more than double the $45 billion level recorded in 2024. Revolut reported pre-tax profit of £1.7 billion on revenue of £4.5 billion for 2025 and says it serves around 75 million customers in more than 40 countries.

Revolut declined to discuss the specifics. A spokesperson said the company does not comment on remuneration, incentive packages or private compensation structures of individual employees, according to City A.M.

The proposed structure resembles the $1 trillion pay package Tesla agreed for Elon Musk in November 2025, tied to a series of market-cap targets. That award survived a shareholder vote but drew extended legal challenges in Delaware, where a judge initially voided it before it was restored. One investor told the Financial Times they support “meaningful investment and risk-taking with very ambitious targets.” If finalized, the Revolut plan would be the largest executive incentive arrangement in European fintech, and at $500 billion Storonsky’s enlarged stake would be worth $200 billion on paper, exceeding the wealth of any European technology founder.

The sequencing of the award is a key issue. By setting a $500 billion target while still private, Revolut would ask pre-IPO investors to approve a payout that post-IPO shareholders would inherit without a direct vote. A US listing would expose the deal to SEC proxy disclosure requirements, but would not retroactively require shareholder approval for arrangements adopted before the offering. A London listing under the UK Corporate Governance Code would trigger binding say-on-pay votes, but only for plans adopted after admission.

Storonsky said in April 2026 that an IPO was at least two years away, pointing to a listing no sooner than 2028. He has said a US listing would be “clearly more beneficial” than London, citing higher liquidity and the UK’s 0.5% stamp duty reserve tax. The UK Treasury has offered a three-year stamp duty exemption for newly listed companies, though Revolut has not indicated that change alters its calculus. The company obtained a full UK banking licence in March 2026, has applied for a US national bank charter with the Office of the Comptroller of the Currency, and has committed $4 billion of a $13 billion global investment plan through 2030 to the UK. The next milestone is whether the board approves or drops the $500 billion award before public-market disclosure obligations begin. A 2028 IPO would leave roughly 18 months to settle that question.