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Nick Clegg could make £30m windfall from datacentre startup Nscale flotation

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Nick Clegg could make £30m windfall from datacentre startup Nscale flotation

The former UK deputy prime minister is a board member of the UK-based company and owns 917,000 shares

Nick Clegg could make approximately $40m (£30m) from the planned float of Nscale as the UK-based datacentre company prepares for a US stock market listing.

The former UK deputy prime minister owns more than 917,000 shares in the startup, which is reportedly seeking a valuation of up to $35bn in a flotation. Based on Clegg’s stake of 0.12%, that could yield a valuation of about $42m for the ex-Liberal Democrat party leader.

Clegg is a board member at Nscale along with the former Meta executive, Sheryl Sandberg, whose 0.25% stake could be worth $88m if Nscale floats at the $35bn valuation, a figure reported by the Financial Times this month.

However, Nscale was last valued in a funding round at $14.6bn, implying lower valuations of Clegg and Sandberg’s stakes of about $18m and $37m, respectively. Forbes has estimated Sandberg’s wealth at $2.4bn, while Clegg has made about £24m from sales of shares in Meta, where he was formerly the president of global affairs. Both are paid an annual retainer of $60,000.

The Telegraph first reported Clegg’s potential wealth gain from the Nscale float.

UK-based Nscale filed papers for its flotation in the US on 18 September and could make its stock market debut 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.


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