Nigel Farage's Reform UK has secured a monumental financial boost from a reclusive cryptocurrency billionaire based in Thailand, who previously bankrolled a lavish trip for the party leader to celebrate Donald Trump's return to the White House.
The Secretive Mega-Donor Behind the Scenes
Christopher Harborne, who describes himself as "an intensely private person", has committed a staggering £9 million to Reform UK, marking a significant coup for the party. This follows a period of uncertainty over his political allegiance, after he switched support to the Conservatives in 2022 with a £1.5m donation and later gave £1m to Boris Johnson's office.
Harborne's latest generosity is not his first foray into backing Farage. He previously donated £10 million to the Brexit Party during the 2019 election. His direct support for Farage was evident earlier this year, when he paid £27,000 for the Reform leader's three-day trip to Washington D.C. to attend Donald Trump's inauguration. Harborne was photographed alongside Farage at a glitzy party hosted by Republican pollsters during the visit.
From Thai Retreat to Crypto Fortune
Based in Thailand for over two decades, where he has taken citizenship and adopted the name Chakrit Sakunkrit, Harborne operates far from the UK political spotlight. His immense wealth stems largely from early and lucrative investments in the cryptocurrency sector.
Legal documents from a 2024 defamation case reveal Harborne was an early investor in Bitcoin and Ethereum, with the latter now forming a major part of his net worth. Crucially, he holds an estimated 12% stake in Tether, a stablecoin pegged to the US dollar. Tether reported profits of $13 billion (£10.2bn) last year, and if Harborne receives a payout proportional to his shareholding, it could amount to around $1 billion annually.
His business interests are varied, stemming from a passion for aviation that led him to establish several companies after a stint at consultancy McKinsey. However, it is his crypto ventures that have provided the funds now shaping British politics.
Political Alignment and Policy Influence
While Farage insists Harborne wants "absolutely nothing in return" for his £9m donation, their interests appear closely aligned. The Reform leader has been a vocal advocate for cryptocurrency, criticising potential curbs and urging London to embrace the digital asset world.
In a September LBC appearance, Farage highlighted Tether's growing valuation, stating: "Tether is about to be valued as a $500bn company. You know, stable coins, crypto, this world is enormous, and I’ve been urging for years that London should embrace it." He directly linked this ambition to Harborne's support, arguing that exploiting such "21st-century technologies" requires a complete overhaul of the UK's energy policy.
The scale of Harborne's donations inevitably raises questions about influence. Tether itself has faced scrutiny from law enforcement agencies, including the UK's National Crime Agency, which has identified its tokens being used in money-laundering schemes linked to Russian efforts in Ukraine. Tether states it condemns illegal use and fights illicit activity.
As a non-executive investor, Harborne's lawyers argue that implicating him in crimes perpetrated by users would be like blaming the US Treasury for money laundering because it prints dollars. Nonetheless, his financial power ensures this intensely private figure will remain a very public force in the upcoming political battle.
