How Wise co-founder went from tech darling to tax list of shame VIC Tourism News

How Wise co-founder went from tech darling to tax list of shame

29 Jun 2022 By theguardian

Wise reached a valuation of almost £12bn in September, making both co-founders billionaires on paper. However, the investor shift away from growth stocks amid fears of higher interest rates has dampened enthusiasm, and the payments company started the week at £3.9bn, less than half the valuation on its London market debut a year ago.

Käärmann, 41, has retained more power over Wise than majority shareholders generally do when listing shares in the UK: a controversial US-style share structure gives him almost half of the votes at company meetings.

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