Direct Bullion payments to Nigel Farage face scrutiny over low social media engagement

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Farage bullion payments scrutiny

Highlights

Farage received £270,000 in May 2026 and £135,000 in October 2025 from Direct Bullion for 12 hours of brand ambassador work per quarter.
Since early 2025, twenty-five Direct Bullion videos featuring Farage averaged 850 views and fewer than 20 likes each, valuing his declared fees at nearly £19 per view.
Direct Bullion's profit and loss reserves rose by £620,000 to £2.7mn in the twelve months to January 31 2025, while critics question the investment advice in promotional content.

Declared fees and campaign reach

As reported by the Financial Times, Farage received £270,000 in May 2026 from Direct Bullion for 12 hours of work over three months as a brand ambassador, after an earlier £135,000 payment in October 2025 for the same amount of work.

The newspaper said 25 videos featuring Farage and published by Direct Bullion across Facebook, X, YouTube and Instagram since the start of 2025 average about 850 views each, with all receiving fewer than 20 likes. The combined total stood at just over 21,300 views as of Thursday lunchtime, implying nearly £19 per view when measured against Farage’s declared earnings from Direct Bullion since those clips were published.

The figures do not account for any additional off-camera work or other duties Farage may have undertaken for the company. A promotional video featuring him also remains pinned at the top of Direct Bullion’s homepage, while both Reform UK and Direct Bullion did not respond to questions on whether the role includes activity beyond filmed appearances.

Farage has declared more than £2mn in outside earnings since being elected, including a total of £685,000 from Direct Bullion since December 2024. In May, he also acknowledged receiving a £5mn gift from crypto billionaire Christopher Harborne ahead of the 2024 general election that was not entered on the parliamentary register, saying it was for his security and unrelated to his later decision to stand as an MP.

Marketing value and investment criticism

Djanan Kasumovic, co-founder of marketing agency Influencer Strategists, said Farage’s fee is difficult to justify on view counts alone, although he added that the use of Farage’s name, face and credibility could still hold broader commercial value for Direct Bullion.

The content of the promotions is also drawing criticism. In one video posted in October and November, Farage warns viewers about capital gains tax and urges customers to seek tax-free profits on gold, but tax expert Dan Neidle said that while Royal Mint coins can be exempt from capital gains tax, investors also cannot claim tax relief on losses.

Neidle said storage and other bullion costs are likely to outweigh any tax advantage, and questioned why Farage is giving supporters what he described as bad investment advice. Rhona O’Connell, head of market analysis at StoneX, also said it would be dangerous to hold a pension solely in gold and argued that investors should instead add some gold within a broader portfolio.

Direct Bullion had five employees in the 12 months to January 31 2025, according to its latest accounts, and its profit and loss reserves rose by £620,000 to £2.7mn in that period. Chief executive Paul Withers previously said the relationship with Farage began after the company sponsored GB News at its 2021 launch, and said the ambassador role had brought in many customers and performed better than he anticipated.

Our earlier report on the FCA’s disclosure overhaul and fee ban explained how the regulator is tightening conduct standards for UK investment firms to improve customer outcomes. We noted the FCA’s push for clearer, plain-English presale information and fairer charging practices, including action against “double-dipping” on client cash and increased pressure on providers in the unit-linked pension market to deliver better value.

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