Farage reportedly sought £1m yearly compensation before £5m gift from crypto billionaire
7 reported2 unconfirmed
According to a Guardian report citing multiple sources, Nigel Farage told senior Reform UK figures in March 2024 that he would need “a million a year” to cover lost earnings if he stood for parliament in the 2024 general election. The discussion occurred shortly before an undeclared £5m gift was made by Thailand-based crypto billionaire Christopher Harborne on 5 April 2024, according to Harborne’s lawyers. Sources said Farage believed he would have to give up his GB News presenting role, which then paid him more than £1m a year, and stated he could not “end up skint” after standing. Farage has given multiple reasons for accepting the gift, including security costs and a reward for Brexit, and has denied wrongdoing by not declaring it. The parliamentary watchdog has paused its investigation into whether the gift should have been declared during Farage’s byelection campaign, with the probe to resume after the byelection concludes. Farage’s office did not deny the remarks but said he did not feel any answer would be reflected accurately.
What’s reported
Nigel Farage told senior Reform UK figures in March 2024 he would need “a million a year” to cover lost earnings if he stood for parliament.
The £5m gift from Christopher Harborne was made on 5 April 2024, according to Harborne’s lawyers.
At the time, Farage was Reform UK’s honorary president and majority shareholder and was actively campaigning.
Sources said no mention of security costs was made in the discussions about replacing lost earnings.
Farage received about £98,000 a month from GB News in 2024, according to the register of members’ financial interests.
The parliamentary watchdog has paused its investigation into the gift, to resume after the byelection concludes.
Farage’s office responded to a request for comment by saying he did not feel any answer would be reflected accurately.
Open questions
The exact timing of the £5m payments, as neither Farage nor Harborne’s lawyers engaged with detailed questions about this.
Whether the gift was conditional or unconditional, given Farage’s varying explanations (security, Brexit reward, personal).
Key figures
Nigel Farage, honorary president and majority shareholder of Reform UK, MP for Clacton.
Christopher Harborne, Thailand-based crypto billionaire.
Sources: The Guardian
