Wise’s founder and CEO will be paid just £ 197,000 if the company goes public for an estimated £ 5 billion
Wise’s founder and CEO will earn just £ 197,000 if his company goes public for an estimated £ 5 billion next week.
Kristo Kaarmann, who started the money transfer business with his friend Taavet Hinrikus in 2010, will also, unusually, not receive any bonuses.
In the money: Kristo Kaarmann’s 18.8 percent stake will be worth almost £ 1 billion
But he will not be short of money. His 18.8 percent stake will be worth nearly £ 1 billion, and he will reap whatever dividends the company decides to give shareholders.
Kaarmann is unlikely to sell any of its shares if Wise goes public.
Other major shareholders are fund manager Baillie Gifford.