Revolut wants to let Nik Storonsky borrow $250mn against his own shares

Image for article Revolut wants to let Nik Storonsky borrow $250mn against his own shares
News Source : The Next Web

News Summary

  • The request went to investors last week as part of a governance exercise the fintech has codenamed Project Shasta.
  • The company currently cap the chief executive’s borrowing against his own shares at $50mn, a limit written when the company was worth a small fraction of what it is worth now.
Revolut has asked its shareholders to let Nik Storonsky borrow up to $250mn against his stake in the company, five times what the current rules permit.

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