person

Nikolay Storonsky

British-Russian entrepreneur. Co-founder and CEO of Revolut. Renounced Russian citizenship after Ukraine invasion. Moved tax residency to UAE in 2024. Father works for Gazprom subsidiary sanctioned by Ukraine.

Career History

Revolut Current

CEO

Track Record

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Nikolay Storonsky changed tax residency from UK to UAE, potentially avoiding £3 billion in capital gains tax

Oct 16, 2024

In October 2024, Revolut CEO Nikolay Storonsky relocated his tax residency from the UK to the UAE. This move could allow him to avoid approximately £3 billion in capital gains taxes that would have been due on his Revolut stake if sold while a UK resident. The UAE has no capital gains tax, making it a popular destination for wealthy tech executives.

- Tax Practices

Sources: Irish Times

Publicly condemned Russia's invasion of Ukraine and renounced Russian citizenship

Mar 1, 2022

Nikolay Storonsky published an open letter calling Russia's invasion 'wrong and totally abhorrent' and calling for an immediate end to fighting. In October 2022, he renounced his Russian citizenship. Revolut matched Red Cross donations and donated 5% of European orders (€5M+) to Ukraine support.

- Authoritarian Compliance

Sources: The Block