Russian-Israeli billionaire who faced controversy over his stakes in Twitter and Facebook set to make nearly £70m from the blockbuster float of Deliveroo
A Russian-Israeli billionaire who faced controversy over his stakes in Twitter and Facebook is set to make nearly £70million from the blockbuster float of Deliveroo, The Mail on Sunday can reveal.
Yuri Milner’s vehicle DST Global, the fourth largest investor in the takeaways business, is selling nearly 3 per cent of its shares, worth up to £68million.
That will still leave it with a stake worth as much as £615million.
Shrewd: Yuri Milner, with his wife Julia, will still have a £615million stake in the firm
Deliveroo is expected to float this week, with a value up to £8.8billion. It has already secured offers for the £1.6billion of shares it wants to sell.
But the loss-making app’s price tag, and concerns over governance and its riders’ work status, have caused a string of high profile funds to shun the float. Russian-born Milner, an Israeli citizen, bought into Deliveroo in 2015 as part of a $100million funding round.
A former tech adviser to the Russian government now based in California, he has invested in a series of digital specialists including Airbnb and Spotify.
In 2017 it emerged that funding for Milner’s investments in Twitter and Facebook came from entities linked to the Kremlin, sparking concerns about Russia’s influence on US politics and social media. Milner denied the funding had an influence on either company.
The float is set to bring fortunes to Deliveroo founder Will Shu and investors including Amazon.