Tether Billionaire Enters UK's Richest People List Amid Farage Gift Inquiry

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In brief - Billionaire Tether investor Christopher Harborne has entered the Sunday Times Rich List in sixth place, with most of his wealth tied to his Tether stake. - Harborne’s $6.7 million gift to Reform UK leader Nigel Farage in 2024 has come under scrutiny. - Farage faces a standards probe over the gift, which he claimed was a “reward” for Brexit campaigning. Christopher Harborne, a major investor in stablecoin issuer Tether and financial backer of Reform UK leader Nigel Farage, was named one of the UK's richest people as Farage faces a parliamentary standards inquiry over a reported $6.7 million (£5 million) gift from the crypto billionaire. The Sunday Times released its annual Rich List on Friday, ranking Harborne sixth in the UK with an estimated fortune of about $24.4 billion (£18.2 billion). Most of Harborne’s wealth reportedly comes from a 12% stake in Tether, the issuer of the USDT stablecoin, which has been valued at about $200 billion. Tether reported $1.04 billion in first-quarter profit this year, with a reserve buffer of $8.23 billion and nearly $192 billion in reserve assets. Harborne’s lawyers have said he holds stakes at Tether and its sister company Bitfinex, but has no operational role in either. The ranking makes Harborne the richest person in the North of England and Yorkshire, with a fortune larger than the rest of Yorkshire’s top 10 combined, per the Sunday Times. He was also listed as the wealthiest British-born person on the 2026 list, though he has lived in Thailand for over two decades and holds Thai citizenship under the name Chakrit Sakunkrit. A ‘reward’ for Brexit? Harborne has emerged as a major financial backer of Nigel Farage, the Reform UK leader and member of Parliament for Clacton. He has donated about $16.1 million to Reform UK, including a roughly $12.1 million contribution late last year that was described as the largest single political donation from a living individual in British history. On Thursday, the UK’s Parliamentary Standards Commissioner opened an investigation into whether Farage should have declared Harborne's reported $6.7 million gift, which was made before the Reform UK leader stood in the 2024 general election. Farage earlier claimed the gift was an “unconditional, non-political, personal gift” meant to fund his security, adding that he was under “no obligation” to report it. In an interview with The Sun Thursday, Farage claimed the money was given on an “unconditional basis” and was “a reward for campaigning for Brexit for 27 years,” as quoted by Protos. Farage argued that he “cannot be bought,” citing what he described as an undisclosed offer of a “load of money” from Elon Musk to say certain things publicly, which he claimed he refused. Changes in Farage’s explanation came after The Guardian reported that he bought a roughly $1.9 million property in cash shortly after receiving the gift, citing documents it had reviewed. Reform UK said the offer and purchase process began before the gift, and that Farage had already passed proof-of-funds and other checks before receiving the money. When asked for comment, the UK’s Parliamentary Standards Commissioner told Decrypt it publishes the names of MPs under investigation alongside brief details of the Code of Conduct provisions they are alleged to have breached. Farage’s inquiry is listed by Parliament as an active Rule 5 investigation for “failure to register an interest,” with no finding published yet. Under Commons rules, new MPs must register current financial interests and any registrable benefits received in the 12 months before their election within one month, Decrypt was told. Decrypt has reached out to Farage and Harborne for comment. This article will be updated should they respond.

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