Nigel Farage's mysterious crypto billionaire backer has been catapulted into the Top 10 of the Sunday Times Rich List. Christopher Harborne, a publicity-shy Thai-based British tycoon, has seen his wealth estimated at £18.2 billion, placing him sixth on the prestigious list. This marks the first time researchers have included Harborne, who is also known by the Thai name Chakrit Sakunkrit.
Harborne's Financial Empire
The 62-year-old, originally from Sheffield, has donated over £22 million to Reform UK in the past seven years. However, his dealings have come under scrutiny after he gave Farage a £5 million "personal gift," which Farage failed to declare before becoming an MP. Farage insists the money was for personal security, but the matter is now under investigation by Parliamentary standards chief Daniel Greenberg.
Robert Watts, compiler of the Sunday Times Rich List, noted that Harborne is "a Rich List compiler's nightmare" due to the complexity of his business interests. Among his known assets is an estimated £357 million stake in British defence giant Qinetiq through Klear Kite LLC, a company registered in Delaware. He also founded jet fuel broker AML Global, which operates in over 1,200 locations worldwide, though its value remains undisclosed.
The largest portion of Harborne's wealth, estimated at £18.177 billion, comes from his 12% stake in Tether, a cryptocurrency company. Farage has publicly backed Tether, stating on LBC radio that "stablecoins are the way which money goes from conventional currencies through into cryptocurrencies and back again." If Tether reaches a $500 billion valuation, Harborne's stake could be worth £44 billion, potentially making him Britain's richest person.
Rich List Highlights
The Sunday Times Rich List reveals that the combined wealth of the UK's 350 wealthiest individuals and families has risen by 1.4% to £784 billion, surpassing the annual economies of Belgium, Sweden, and Israel. There are now 157 UK billionaires, down from 177 four years ago, with the minimum entry level at £340 million.
The Top 10 includes:
- Sanjay and Dheeraj Hinduja and family - £38 billion
- David and Simon Reuben and family - £27.9 billion
- Sir Leonard Blavatnik - £26.8 billion
- Idan Ofer - £24.5 billion
- Guy, George, Alannah and Galen Weston and family - £18.9 billion
- Christopher Harborne - £18.177 billion
- Nik Storonsky - £16.4 billion
- Alex Gerko - £16 billion
- Sir Jim Ratcliffe - £15.19 billion
- Igor and Dmitry Bukhman - £14.26 billion
Chemicals magnate Sir Jim Ratcliffe, co-owner of Manchester United, slipped to ninth place as his wealth fell from £17 billion to £15.2 billion. Sir James Dyson also saw his fortune drop from £20.8 billion to £12 billion. Meanwhile, Nik Storonsky, co-founder of Revolut, saw his wealth climb to £16.4 billion, gaining an average of £25.8 million per day since last year's list.
Criticism of Wealth Inequality
Separate research by the TUC found that the number of billionaires has doubled since 2010, while real wages for ordinary workers have stagnated. The average wealth of a Rich List member is over 7,600 times higher than the average UK household. TUC General Secretary Paul Nowak commented: "We need an economy that rewards work – not just wealth. Under the Conservatives, the wealthiest were allowed to feather their nests while working people suffered an epidemic of insecure work and the worst pay stagnation in two centuries. Clearly wealth has not trickled down – it has been hoarded by those at the top."
