Christopher Harborne, a British-born cryptocurrency billionaire, has matched a record £36 million donation to the Reform UK political party, intensifying scrutiny of the party’s funding sources. Harborne’s pledge, announced shortly after fellow crypto billionaire and Reform donor Ben Delo’s contribution of the same amount, reflects a competitive spirit between the two major backers of the party led by Nigel Farage.
Harborne, whose estimated net worth of around £18.2 billion places him among the wealthiest individuals in the UK, revealed he had donated approximately £1 million monthly to Reform prior to matching Delo’s record gift. The substantial support from Harborne, who has given more than £25 million to Reform and its predecessor, The Brexit Party, underscores the significant financial backing the party has received from figures within the cryptocurrency sector.
Earlier in 2024, Harborne also made a £5 million donation to Nigel Farage personally, a payment now under investigation by the Parliamentary Standards Commissioner to determine whether it should have been declared officially. Farage has stated the funds were intended to cover personal security costs during a period when he was not actively involved in politics.
Harborne remains a relatively private individual despite his public financial involvement in politics. Born in Yorkshire and educated at Westminster School and Cambridge University, he has worked with companies such as McKinsey and PepsiCo before establishing his wealth through investments in private aviation and, later, cryptocurrency. Harborne took Thai citizenship in 2011, adopting the name Chakrit Sakunkri, and has resided in Thailand for several decades.
His cryptocurrency fortune primarily stems from his early investments in tokens and crypto mining, and he currently holds a 12% stake in Tether, the El Salvador-based company that operates USDT, the largest stablecoin globally. Both Harborne and Farage have expressed strong support for the development and adoption of cryptocurrency in the UK, with Farage advocating for London to become a leading global center for digital currency trading.
The timing of Harborne’s new donation comes amid an ongoing Metropolitan Police investigation into Reform UK following a Channel 4 undercover report. The broadcast alleged that the party possibly breached regulations prohibiting foreign donations after undercover reporters posing as representatives of a wealthy American donor were advised on methods to circumvent electoral laws. The investigation includes payments to Reform totaling £500,000 and unreported election polling expenses exceeding £30,000.
Following the broadcast, two senior Reform staff members resigned: Dan Jukes, chief of staff to Nigel Farage, and James Orr, the party’s head of policy. Farage has dismissed the sting as entrapment, while the Electoral Commission has welcomed the police inquiry and is considering additional regulatory actions. The police probe forms part of a wider inquiry into Reform’s donations and compliance with election funding laws, particularly concerning the period leading up to the July 2024 general election.
Meanwhile, Farage faces ongoing scrutiny over the £5 million donation from Harborne, with the Parliamentary Standards Commissioner examining potential breaches of declaration rules. Farage has maintained that the funds were used solely for personal security prior to his election as a Member of Parliament.