Nigel Farage has amassed £685,500 from promoting Direct Bullion, a gold dealer, according to the register of MPs' interests. The Reform UK leader and MP for Clacton earned £270,000 for just 12 hours of work in his latest payment, making it his most lucrative side hustle since entering parliament.
Farage's Side Hustles
Farage's additional income streams include social media influencing, presenting on GB News, and recording videos for Cameo. On Cameo, he faced controversies such as appearing to endorse a neo-Nazi event, calling for the release of rapper Sean "Diddy" Combs, and being duped into a pro-IRA slogan. However, his Direct Bullion role surpasses these in earnings.
What Is Direct Bullion?
Founded in 2016, Direct Bullion sells physical precious metals, primarily gold coins and bars, from its Mayfair office. It markets gold as a wealth store amid economic uncertainty. Companies House filings show net assets of £2.6 million, roughly four times Farage's earnings from the firm. The 2024 Financial Times list of Europe's fastest-growing companies reported £17 million in revenue for 2022, ranking Direct Bullion 506th.
The company operates as a dealer, sourcing coins and bars from mints and suppliers rather than holding vast reserves. Its website warns of a debt-laden UK economy, stating: "Your wealth is disappearing." Products include krugerrands, Australian "Year of the Pig" coins, and the Royal Mint's Royal Tudor Beasts collection. Gold has fallen about 26% from its January peak. Direct Bullion arranges storage with Brinks or sells panic rooms and safes, including a £16,200 dual-locking safe.
Who Is Behind Direct Bullion?
Co-founder, owner, and CEO Paul Withers, a former Royal Navy electronic warfare specialist (1999–2004), leads the company. After a 15-year gap, he worked as a carpenter, then sold tokenised gold for Aurus (2019–2025) and now serves as chief strategy officer of cryptocurrency firm Stack BTC. Farage invested £215,000 for a 6% stake in Stack BTC, chaired by former chancellor Kwasi Kwarteng. In 2024, Withers called Farage an "absolute legend" after his election.
Why Did Direct Bullion Hire Farage?
Withers told the Observer in August 2024: "I wanted him. There was no plan B – it was either Nigel or no one." Direct Bullion previously advertised on RT (Russia Today) and sponsored GB News at its launch, leading to initial talks with Farage.
What Does Farage Do for the Money?
Farage's total earnings from Direct Bullion stand at £685,500, including pre-MP payments. His latest instalment of £270,000 equates to £22,500 per hour over 12 hours across three months. He has recorded videos promoting the company, citing his City metals trading background and warning of global turmoil from wars in Ukraine and the Middle East, adding: "In uncertain times, gold is where you need your money to be."
