Nick Clegg stands to make £30m from Nscale US flotation

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

The former UK deputy prime minister owns more than 917,000 shares in the startup, according to The Guardian. Nscale is reportedly seeking a valuation of up to $35bn in the flotation.

Clegg's stake amounts to 0.12% of the company. At the valuation Nscale is reportedly targeting, that stake could be worth about $42m.

Clegg sits on the board of the UK-based company. He previously led the Liberal Democrats before serving as deputy prime minister in the 2010–2015 coalition government.

The potential windfall comes as datacentre operators command outsized valuations from investors betting on continued buildout of AI compute infrastructure. Nscale's reported $35bn target places it among the most valuable companies in the UK's datacentre sector, and a US listing would echo a pattern of European technology firms choosing American markets for their public debuts.

The flotation has not yet priced, and reported valuation targets can shift before a listing completes. If the float proceeds at or near the reported figure, Clegg's 917,000-plus shares would convert into one of the largest personal paydays for a former senior UK politician from a technology listing.

Nscale has not confirmed final terms of the listing. The outcome for Clegg and other shareholders will depend on the price the company ultimately commands when it reaches the market.