this post was submitted on 05 Jan 2025
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Farage vs Musk (b.l3n.co)
submitted 3 months ago* (last edited 3 months ago) by Emperor@feddit.uk to c/okmatewanker@feddit.uk
 
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[–] WeUnite@lemm.ee 1 points 3 months ago

So I'm an American and we have lots and lots of problems with money in politics but when I read this I was shocked:

The Reform UK party, a 2021 rename of the Brexit Party,[207] is a limited company (Reform UK Party Limited)[208] with fifteen shares. Farage owned 53% of the shares in the company, giving him a controlling majority. The other shareholders were Tice, who holds about a third, and Chief Executive Paul Oakden and Party Treasurer Mehrtash A'Zami who each held less than one percent.[209] In August 2024 Paul Oakden was removed and Farage took over his shares, giving him 60% ownership.[210] Reform UK is unusual in that British political parties are usually not corporate entities, but unincorporated associations comprising a leadership and a membership; Reform's paying supporters have no voting powers.[208]

I guess at-least they are honest it's a grift whereas here in the US the organizations are registered as non-profits. So does Farage directly make money from his corporation?