Revolut founder Nick Storonsky sued over alleged $20M broker fee dodge on $400M superyacht purchase

Revolut Founder Sued Over $20M Broker Fee on $400M Superyacht Purchase

Nick Storonsky, co-founder and CEO of Revolut, is being sued by luxury yacht broker Cecil Wright and Partners over allegations that he bypassed the firm to purchase a $400 million superyacht directly from the seller, avoiding approximately $20 million in standard commission fees.

The 335-foot vessel, called Nixie, features a glass-bottomed swimming pool, helipad, private wellness spa, indoor and outdoor cinemas, Japanese teppanyaki grill, and various water toys. According to the Wall Street Journal reporting cited in the segment, Cecil Wright had introduced Storonsky to the yacht and was negotiating the purchase when his team allegedly made direct contact with the seller, Canadian billionaire Patrick Dovigi, and completed the deal without the broker.

The timeline matters. In January, Storonsky's team told Cecil Wright to pause communications with Dovigi, saying they would reconnect the following week. By the next week, according to the filing, Storonsky's team had already arranged to buy the boat directly from the seller. Storonsky's family office responded through a spokesman, calling the claim "without merit" and saying it will be defended.

The broader context

Revolut has become Europe's most valuable startup, valued at $115 billion in a recent share sale. The company operates with 70 million users and is targeting 100 million by mid-2027. Originally built around low-fee foreign currency transactions for international travelers and migrants, Revolut gained its full UK banking license in March after more than a decade of regulatory battles—a lengthy approval process that has partly insulated the company from the kind of competition it would face in the U.S. market. The company recently applied for a national U.S. banking charter.