Nigel Farage received £5 million from cryptocurrency billionaire Christopher Harborne shortly before announcing he would run in the 2024 UK general election, the Guardian can reveal. Farage had previously said he didn’t plan to stand as a candidate for Parliament, but he changed his mind in June 2024, just weeks after receiving the personal gift from the Thailand-based businessman. In July 2024, Farage became an MP for the first time and has since said he expects to become prime minister at the next general election.
When the Guardian approached Farage and Harborne about the gift, neither commented. Instead, lawyers for Reform UK and Harborne asked for more time. Farage later confirmed to the Daily Telegraph that he had received the money, saying it was for his personal security.
Until then, neither Harborne nor Farage had publicly discussed the £5 million gift. It didn’t need to be reported to parliamentary authorities because Farage wasn’t an MP at the time. When he received the gift, Farage hadn’t yet announced he would run for the Clacton-on-Sea seat, so he may not have had to declare it to the electoral commission either.
On Monday, when the Guardian asked about the gift, Reform UK sent a legal letter requesting more time to respond. The deadline was extended to Wednesday morning. Before that deadline, the Telegraph published its interview with Farage.
The money highlights how important Harborne has become in British politics. He has personally funded Farage and the parties Farage has led over the past seven years. Last year, he donated £9 million to Reform UK—the largest single donation from a living person to a British political party. In total, he gave £12 million to the party in 2025.
The £5 million gift to Farage is likely to raise new questions for the Reform leader, given what he said before the last election and his recent comments about his relationship with Harborne. On 23 May 2024, Farage said he wouldn’t stand as an MP in the July election, ending weeks of speculation that he would make an eighth attempt to enter Parliament.
In a post on X, he explained: “I have thought long and hard as to whether I should stand in the upcoming general election. I will do my bit to help in the campaign, but it is not the right time for me to go further than that.” He also said he wanted to be free to campaign in the US presidential election later that year. “Important though the general election is, the contest in the United States of America on 5 November has huge global significance,” he said.
One reason he didn’t want to run for Parliament again, he told friends, was the financial cost he believed his political career had put on him. He has previously said “there’s no money in politics.”
However, less than two weeks later, Farage changed his mind. On 3 June, he announced he would stand for election in Clacton, Essex. He also committed to staying as leader of Reform UK for five years.
After Harborne donated £9 million to Reform, Farage said he spoke to the businessman “maybe once a month, maybe once every six weeks,” but insisted: “I’ve not promised him a single thing in return for his donation.” He added: “Does he want anything from me? No. Absolutely nothing in return at all.”
The disclosure of the gift is also likely to increase scrutiny of Harborne, who has also funded the Conservative Party. He spends most of his time in Thailand and uses a Thai name, Chakrit Sakunkrit. A large part of his wealth comes from a 12% stake in Tether, a cryptocurrency company.
The £5 million also came as Farage was pressuring Rishi Sunak to agree to an election pact with the Conservatives—something Harborne has said he supported at the time and previously.As previously discussed with Farage, the massive financial boost he received may also raise questions about whether there should be greater transparency regarding MPs’ finances just before they take office.
Farage had mentioned being “skint” in a 2017 interview, and in 2023, he fell below the threshold needed to maintain a luxury bank account at Coutts, a branch of NatWest. The bank required clients to invest £1 million with them or hold £3 million in savings.
Harborne and Farage have a long-standing relationship. The billionaire donated £10 million to the Brexit Party before the 2019 election. At that time, Farage withdrew many of his candidates who might have taken votes from the Conservatives, effectively helping Boris Johnson secure a landslide victory. Johnson also received £1 million from Harborne to run his private office after stepping down as prime minister in 2022.
The Guardian asked Farage and Harborne several questions about the gift. Both asked for more time, but as of publication, they had not provided any formal comment. Lawyers for Harborne stated, “Your inquiry is full of speculation and assumptions that don’t seem to be based on any evidence.” Reform did not respond.
In his interview with the Telegraph, Farage said, “This money was given to me so that I would be safe and secure for the rest of my life. I’ve tried and failed in the past to get security funded by the Home Office, and I don’t think the state will ever help me. I’m very much on my own and will be for the rest of my life, and I have to face that grim reality. Christopher is a strong supporter who is deeply concerned about my safety. I’d rather not be discussing any of this, but I have to because someone has obtained information about my private finances, which is outrageous and, I believe, was illegally obtained.”
Frequently Asked Questions
Here is a list of FAQs about the exclusive report that Nigel Farage received an undisclosed 5 million from a crypto billionaire in 2024
BeginnerLevel Questions
Q What is this story about
A An exclusive report claims that UK politician Nigel Farage received a private payment of 5 million from a cryptocurrency billionaire in 2024 The payment was not publicly declared at the time
Q Who is the crypto billionaire
A The specific name has not been officially confirmed in the initial reports but it refers to a very wealthy individual who made their fortune in the cryptocurrency industry
Q Why is this a big deal
A Its a big deal because it raises questions about transparency and potential conflicts of interest If a politician takes a large secret payment from a specific industry people worry that the politician might favor that industry in their policy decisions
Q Is it illegal to give money to a politician
A Not necessarily but in the UK political donations over a certain amount must be publicly declared to the Electoral Commission The key issue here is that the payment was allegedly undisclosedmeaning it was hidden from public view
Q Did Nigel Farage break the law
A That is what investigators will look into If the payment was a political donation and was not declared it could be a breach of electoral law If it was a payment for a private service the rules are different but the lack of transparency is still controversial
IntermediateLevel Questions
Q How was the 5 million transferred
A The report suggests it was a direct transfer possibly through a company or a trust linked to the billionaire rather than a public donation to Farages political party
Q What did Nigel Farage do to earn this money
A The report does not specify a clear service Critics suggest it was a way to influence political access Supporters might argue it was a private business deal but Farage has not provided a public explanation
Q How does this affect Reform UK Farages party
