Nick Clegg Set for $40M Gain in Nscale US Stock Listing
The former UK deputy PM holds 917,000 shares in the AI datacentre startup, which seeks a $35bn valuation in a planned US flotation.
Former UK Deputy Prime Minister Nick Clegg stands to collect roughly $40 million — about £30 million — if AI datacentre startup Nscale proceeds with a planned listing on a US stock exchange, according to reports.
Clegg, who previously served as president of global affairs at Meta, holds more than 917,000 shares in Nscale as a board member of the UK-based company. His stake amounts to approximately 0.12% of the firm, which is reportedly pursuing a valuation of up to $35 billion ahead of the flotation. At that valuation, Clegg's holding would be worth around $42 million.
Read more CFTC Flags Higher Manipulation Risk in Prediction Market 'Mentions' Contracts →
Nscale operates in the fast-expanding datacentre and AI infrastructure sector, an industry drawing intense investor interest as demand for computing power continues to surge globally. A $35 billion target valuation would position Nscale among the most highly valued technology companies to pursue a US public offering from a UK base in recent years.
Clegg led the Liberal Democrats from 2007 to 2015 and served as Deputy Prime Minister in the Conservative-Liberal Democrat coalition government from 2010 to 2015. His board role at Nscale marks one of his most prominent corporate positions since departing Meta earlier in 2024. The financial windfall, if realized, would represent a significant payday tied to the booming appetite for AI-related infrastructure investment.
Continue reading at Business | The Guardian.
