Nikolay Storonsky, the CEO of digital bank Revolut, will cash out part of his shares in the company worth billions of dollars through a $500 million stock sale. Last month, Revolut was working with bankers to sell stocks, including those held by employees, which would value the company at over $40 billion. It is unclear how large Storonsky's stake in the company is, and the size of any sale will depend on the valuation that Revolut receives from new investors and the company's final allocation decision. The company plans to go public, but interim CFO Victor Stinga declined to comment on any IPO timeline earlier this month.

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