Tech billionaire Elon Musk has set up a new company in the UK amid mounting speculation that he plans to funnel millions of dollars to Nigel Farage’s Reform Party.
The company, called X.AI London, was incorporated on December 12, 2024, just two days after the party’s new treasurer, billionaire real estate developer Nick Candy, announced that he and Musk had been linked to the company. “We were exchanging messages,” he admitted.
Companies House says the technology company is engaged in “business and domestic software development” and is based in the same London offices as X (formerly Twitter).
The documents also show that Jared Birchall, a former Merrill Lynch wealth manager who has worked for Musk since 2016 and helped manage his wealth, has been named the company’s sole director.
However, the tycoon is stated to own more than 75 percent of the shares.
The rules around political party donations mean that only individuals on the UK electoral register can make donations.
Musk, who was born in South Africa and is a US citizen, is not allowed to donate directly.
Nigel Farage (right) and Reform Party treasurer Nick Candy (left) during Monday’s meeting with Elon Musk at Mar-a-Lago on December 17.
Elon Musk (pictured) has set up a new company in the UK amid mounting speculation that he plans to funnel millions of dollars to Nigel Farage’s Reform Party.
Property magnate Nick Candy (pictured right with Nigel Farage) announced in December that he would join the reforms as Chancellor of the Exchequer.
As this user pointed out, the technology company is engaged in “business and domestic software development” and is based in the same London offices as X (formerly Twitter).
Co-founded by South African tech moguls in March 2023, XAI is developing Chatboy Grok, an AI assistant available to X users and subscribers, similar to ChatGPT.
The company’s mission is to “advance scientific discovery and gain a deeper understanding of the universe,” according to its website.
The businessman, who has a net worth of more than $400 billion, has co-founded seven companies, including electric car maker Tesla, rocket maker SpaceX and xAI.
Nigel Farage says Musk is likely to donate a “reasonable amount” to the party, praises him as a “hero” and says his advice on voting data will be reformed at the next general election He said it would help the party defeat the Conservatives.
“I hope he will give us a blueprint, and that blueprint is how to reduce the administrative state,” he said.
“He would make a reasonable size donation, but it would have to be legal or legal.
“Everyone is missing the point. It’s not just the money that matters to Elon, it’s the admiration of young people. He’s a bloody hero.”
In December, Farage and Musk met at President-elect Trump’s Mar-a-Lago resort in Florida.
Elon Musk is listed on Companies House as owning more than 75% of the shares.
The documents also show that Jared Birchall (pictured), who has worked for Musk since 2016 and helped manage his estate, has been appointed as the new company’s sole director.
They were joined by Nick Candy, a former Tony donor and current Treasurer of Reform.
Farage revealed that “money was discussed” in his meeting with Musk, telling the Times: “We are negotiating to see if he can help.” He fully supports this.
“He is very motivated by what is happening in the UK and is thinking seriously about donating.”
But Mr Farage added that the “main purpose” of the meeting was to discuss Mr Musk’s role in Mr Trump’s successful re-election to the White House.
There were rumors that his donation could be around $100 million, but insiders from other parties said a donation of that size would be “game-changing” and would increase the pro-reform polls. He acknowledged that there is a possibility that this could spur a rise.
But there are also complaints about foreign influence on British politics.
The election commission said the prime minister was asked to tighten rules on political donations to protect the electoral system from foreign interference.
The election watchdog’s chief executive, Vijay Rangarajan, said one of the key reforms needed to maintain trust was to ensure that donations to political parties were classified as British interests in foreign-owned companies. He said it was about connecting.
This weekend’s East of England Reform Conference drew many supporters
Nigel Farage (pictured) reveals that money was discussed in his meeting with Elon Musk
But in an interview with Sky News’ Trevor Phillips, House of Commons leader Lucy Powell said there were no “immediate” plans to stop Elon Musk’s donations to reform.
But she left open the possibility that the way political contributions are regulated in the future could change.
He added that Labor had promised to introduce 16-year voting and ensure the electoral system was “honest and robust”.
MailOnline has contacted Reform UK and Elon Musk for comment.
Conservative Party leader Kemi Badenoch previously accused Mr Farage of “faking” the reformer’s claim that he had surpassed the Conservatives in terms of registered MPs.
Mrs Badenoch said Reform’s counters were “coded to automatically make noise”.
A digital counter on the Reform website showed party membership before the Boxing Day lunch break exceeded the 131,680 the Conservatives declared in the leadership election earlier this year.
Asked whether he had threatened legal action, Mr Farage said: “I have not threatened anything.” They just said they will take action unless they get an apology.
“It doesn’t say anything about whether it’s legal or not.”
He added: “All I said was I wanted an apology.” If we do not receive an apology, we will take action.
“We’ll decide what that is in the next few days. So we haven’t specified what it is.”
