Why is Nigel Farage being paid so much to promote a gold bullion company?
Farage, whilst serving as MP for Clacton and Reform UK leader, has established multiple income streams beyond his parliamentary role, the most lucrative being his ambassadorship with Direct Bullion. The gold bullion company has paid him £685,500 in total, including a recent payment of £270,000 for just 12 hours of promotional work.
Direct Bullion, based in Mayfair and founded in 2016, sells precious metals by framing gold as a hedge against economic uncertainty and declining purchasing power. The company generates significant revenue (£17m in 2022) whilst maintaining relatively small net assets of £2.6m, sourcing products from external suppliers and arranging secure storage through international vault providers rather than holding its own physical reserves.
- Nigel Farage earned £685,500 promoting Direct Bullion, a gold dealer, including £270,000 for 12 hours of work as brand ambassador
- Direct Bullion markets precious metals as economic protection against UK inflation and debt, generating £17m revenue despite modest £2.6m net assets