Nick Clegg, the former UK deputy prime minister, could make approximately £30m ($40m) from the planned flotation of Nscale, a UK-based datacentre startup preparing for a US stock market listing. Clegg owns more than 917,000 shares in the company, which is reportedly seeking a valuation of up to $35bn.
Nick Clegg's Stake in Nscale Datacentre Startup
Clegg's stake of 0.12% in Nscale could be worth about $42m if the company floats at the $35bn valuation. He serves on the board alongside former Meta executive Sheryl Sandberg, whose 0.25% stake could be worth $88m at that valuation. However, Nscale was last valued at $14.6bn in a funding round, implying lower valuations of about $18m for Clegg and $37m for Sandberg.
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Background and Other Earnings
Clegg has already made about £24m from selling shares in Meta, where he was president of global affairs. Both he and Sandberg receive an annual retainer of $60,000 for their board roles. Forbes estimates Sandberg's wealth at $2.4bn.
Nscale's US Flotation Plans
Nscale filed papers for its flotation in the US on 18 September and could debut on the stock market before the year end. The company is preparing to list in New York, reflecting its global ambitions and the depth of funding available in the US for expensive AI infrastructure projects.
Comparison of Potential Valuations
| Shareholder | Stake | Value at $14.6bn | Value at $35bn |
|---|---|---|---|
| Nick Clegg | 0.12% | $18m | $42m |
| Sheryl Sandberg | 0.25% | $37m | $88m |
Key Takeaways
- Nick Clegg could earn £30m from Nscale's flotation.
- Nscale is seeking a valuation of up to $35bn.
- The company filed for a US IPO on 18 September.
- Clegg and Sandberg both serve on Nscale's board.
FAQ
How much could Nick Clegg make from Nscale's flotation?
Nick Clegg could make approximately £30m ($40m) from Nscale's flotation, based on his 0.12% stake and a potential $35bn valuation.
What is Nscale's planned valuation?
Nscale is reportedly seeking a valuation of up to $35bn in its planned US stock market listing.
When will Nscale go public?
Nscale filed papers for its flotation on 18 September and could make its stock market debut before the end of the year.
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