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Revolut Founder Sued Over Superyacht Deal

Wall Street Journal Markets •
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Nik Storonsky, co-founder and CEO of digital-banking giant Revolut, is facing a lawsuit over his recent purchase of a superyacht valued at approximately $400 million. The legal action was filed in London's High Court by luxury yacht broker Cecil Wright & Partners.

Cecil Wright & Partners alleges that Storonsky "went behind their back" to avoid paying a commission, estimated to be around $20 million, on the acquisition of the yacht, named Nixie. The vessel is described as a 102-meter superyacht featuring amenities such as a glass-bottomed swimming pool, helipad, four terraces, and an Indian teak deck.

The lawsuit claims that Storonsky bypassed the broker after they had facilitated the deal for the high-value purchase. The specifics of the alleged circumvention are central to the legal dispute currently before the High Court.