Tech billionaire Elon Musk has set up a new company in the UK as speculation mounts that he is planning to funnel millions 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 and billionaire property developer Nick Candy admitted he and Mr Musk were ‘messaging’.
According to Companies House, the tech firm works in ‘business and domestic software development’ and is based at the same London offices as X (formerly Twitter).
Documents also show that Jared Birchall, a former wealth manager at Merrill Lynch who has worked for Mr Musk helping to manage his fortune since 2016, has been appointed the only director at the company.
However the tycoon is stated as having owning 75 per cent or more of shares.
Rules for party donations only allow individuals on a UK electoral register to be able to donate.
Mr Musk, who was born in South Africa and has American citizenship, wouldn’t be allowed to make the donation directly.
Nigel Farage, right, and Reform Party treasurer Nick Candy, left, during their meeting on Monday with Elon Musk at Mar-A-Lago on December 17
Elon Musk, pictured, has set up a new company in the UK as speculation mounts that he plans to funnel millions to Nigel Farage’s Reform party
Property tycoon Nick Candy (picture right with Nigel Farage) declared he was joining Reform as Treasurer in December
The tech firm works in ‘business and domestic software development’ and is based at the same London offices as X (formerly Twitter ), as this user noted
XAI, co-founded by the South African tech tycoon in March 2023, is behind the chatboy Grok, an AI assistant available to X users and subscribers, similar to ChatGPT.
According to its website, the firm has the mission of ‘advancing scientific discovery and gaining a deeper understanding of our universe’.
The busines man, who has a net worth of more than $400billion, co-founded seven companies, including electric car maker Tesla, rocket producer SpaceX and xAI.
Nigel Farage has said Mr Muskmay give a ‘reasonable sized’ donation to the party and praised him as a ‘hero’ – saying his advice on voting data would help Reform beat the Conservatives at the next General Election.
He said: ‘I’m hoping he gives us the blueprint, and the blueprint is how to cut the administrative state.’
‘He will give a donation, a reasonable sized donation, but it will need to be legal or above board.
‘Everyone’s missing the point. What matters with Elon isn’t just the money, it’s the kudos with the young people. He’s a bloody hero.’
In December, Mr Farage and Mr Musk met in Florida at President-elect Trump’s Mar-a-Lago resort.
Elon Musk is stated on Companies House as owning 75 per cent or more of shares
Documents also show that Jared Birchall, pictured,who has worked for Mr Musk helping to manage his fortune since 2016, was appointed the only director at the new company
They were joined by former Tony donor Nick Candy, now Reform’s treasurer.
Mr Farage revealed that ‘money was discussed’ in his meeting with Mr Musk, telling The Times: ‘We are in negotiations about whether he can help. He is fully behind this.
‘He is motivated enough by what’s going on in Britain to give serious thought to giving money.’
But Mr Farage added the ‘primary goal’ of the meeting was to discuss Mr Musk’s role in Mr Trump’s successful bid to be re-elected to the White House.
There were rumours of his donations could be around $100million which insiders in other parties admitted funding at such a scale could ‘shift the dial’ and add fuel to Reform’s rise in the polls.
But there have also been complaints about influence on British politics from abroad.
The prime minister was urged to strengthen the rules around political donations to protect the electoral system from foreign interference, the Electoral Commission said.
Vijay Rangarajan, the CEO of the elections watchdog, said that one of the key reforms required to maintain trust is linking donations to political parties with the UK profits of companies owned by foreign entities.
Nigel Farage, pictured, revealed that ‘money was discussed’ in his meeting with Elon Musk
However, speaking to Trevor Phillips on Sky News, Commons Leader Lucy Powell said there were no ‘immediate’ plans to stop Elon Musk from donating to Reform.
However she left the door open for changes in the way political donations are regulated in the future.
She added that Labour promised to introduce votes at 16 as well as ensuring the electoral system ‘has integrity and is robust’.
MailOnline has approached Reform UK for comment.
Conservative Party leader Kemi Badenoch has previously accused Mr Farage of ‘fakery‘ in response to Reform claiming they had surpassed the Tories in signed-up members.
Mrs Badenoch said Reform’s counter was ‘coded to tick up automatically’.
A digital counter on the Reform website showed a membership tally before lunchtime on Boxing Day ticking past the 131,680 figure declared by the Conservative Party during its leadership election earlier this year.
Mr Farage, on whether he was threatening legal action or not, said: ‘I haven’t threatened anything. I’ve just said that unless I get an apology, I will take some action.
‘I haven’t said whether it’s legal or anything.’
He added: ‘All I’ve said is I want an apology. If I don’t get an apology, I will take action.
‘I will decide in the next couple of days what that is. So I’ve not specified what it is.’
