Both CEOs of the top UK fintech challenger banks, Nikolay Storonsky and Tom Blomfield have been listed on the “Sunday Times Rich List” for the first time.
Nikolay Storonsky was born in Russia but he is a British citizen. His company Revolut is worth $5,5 billion. Nikolay spent five years as an equity derivatives trader at Credit Suisse. As a frequent traveler, he began to notice he was wasting hundreds of pounds in exchange rate markups and fees.
Read also: Revolut cuts about 60 jobs citing COVID-19 crisis measures
He joins the ranks of Britain’s super-rich with Revolut, the banking, and trading service he launched in 2015. His stake is now worth at least £363m.
Tom Blomfield is a 34-year-old Oxford graduate and is CEO of Monzo bank. He is 858th on the rich list, which charts the 1,000 wealthiest people or families resident in the UK ranked by net wealth.
Monzo bank was founded in 2015 as well and last week it was valued at £1,25 billion as it was seeking funding. This may indicate that the numbers stated above for Revolut would be slightly different if they were recent, probably lower.
Read also: Monzo valuation drops by 40% as it seeks funding
The list has also included Monzo co-founder Peter Rippon, coming in at 982 on the list, with a value of £120m.
It also reveals that the coronavirus pandemic has erased £54bn from the wealth of Britain’s richest in the past two months.