Nikolay Storonsky, the CEO and co-founder of financial technology company Revolut, has officially changed his residence from the UK to the United Arab Emirates as of October 2024. This change was recorded in a filing with the UK’s Companies House. The filing did not specify the reasons behind this move, and a spokesperson for Revolut declined to comment on the matter.
Background on Nikolay Storonsky
Storonsky, originally from Russia, co-founded Revolut in 2015. He holds more than a 25% stake in the company, either directly or indirectly, according to Revolut’s latest annual report. Revolut has grown rapidly and was valued at $75 billion as of September 2025. The company has expanded its customer base to over 65 million and plans to enter 30 new markets by the end of the decade.
Previous Relocation
In 2022, Storonsky renounced his Russian citizenship in response to the invasion of Ukraine, condemning the war as “horrifying” and “impossible to believe.” He has also acquired French citizenship.
Implications
Storonsky’s relocation to the UAE may have implications for Revolut’s operations and regulatory considerations, particularly as the company continues to expand its global presence. However, without an official statement from Storonsky or Revolut, the specific reasons for this move remain speculative.
Source: Reuters
