Revolut CEO Nik Storonsky is facing a lawsuit in London over the purchase of a superyacht, with the broker claiming he dodged about 17.5 million euros in commission. The yacht, once valued at 350 million euros by its former Brazilian owner, is at the center of the dispute.
The claim, filed at the UK High Court, alleges that Storonsky’s family office approached broker Cecil Wright & Partners to find a suitable luxury vessel to buy while another yacht he had previously ordered was still being built.
Cecil Wright & Partners found a yacht that met Storonsky’s requirements, but claims it was unfairly sidelined when the billionaire eventually bought it, according to court filings. The broker says it was not involved in the final purchase negotiations, which were handled directly between Storonsky and the yacht’s seller.
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A spokesperson for Storonsky’s family office said the claim is without merit and will be defended. Lawyers for the Revolut tycoon have yet to submit a defense, but the case offers a rare glimpse into the opaque world of ultra-luxury yacht deals.
According to court documents, Storonsky’s family office wrote to Cecil Wright in July last year, saying they wanted to explore the opportunity to acquire a boat while waiting for construction to finalize. Cecil Wright replied, saying they would be delighted to assist with this.
Cecil Wright identified an under-construction yacht that was expected to be delivered in May, which had originally been commissioned by Canadian businessman and former ice hockey player Patrick Dovigi. The yacht was later sold to a Brazilian buyer, who was arrested in connection with allegations of fraud while Storonsky was negotiating its purchase.
Storonsky’s office offered about 300 million euros for the yacht after he inspected it at a shipyard in Schacht-Audorf, Germany. The Brazilian owner had sought 350 million euros for the yacht prior to his arrest, and Dovigi reacquired the vessel after the arrest.
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Cecil Wright’s lawyers alleged that Storonsky and Dovigi sought to conclude the purchase without the involvement of any brokers to reduce the price that Storonsky would pay for the yacht. This resulted in the avoidance of commission.
Dovigi did not respond to an email for comment, and the case is ongoing. Storonsky, the UK’s richest person with a net worth of about US$20.4 billion, according to the Bloomberg Billionaires Index, has yet to comment on the allegations.
The lawsuit highlights the complex and often opaque nature of ultra-luxury yacht deals, which can involve multiple parties and large sums of money. As the case progresses, it may provide further insight into the world of high-end yacht sales and the role of brokers in these transactions.