He failed to win a parliamentary seat in last week's elections, coming third in Wellingborough and Rushden.

Five of his party colleagues were more successful, with Mr Farage winning in Clacton and Mr Tice, who is a major Reform donor, securing the set of Boston and Skegness.

The party's new chair Zia Yusuf did not stand as a candidate but donated hundreds of thousands of pounds to the party and appeared at campaign events.

Mr Zusuf made an estimated £31m last year after selling his luxury concierge app Velocity Black.

His parents came from Sri Lanka to Britain in the 1980s, where they worked for the NHS.

Speaking to the BBC earlier this year, he said the UK needed "grown-up discussion about immigration without name-calling".

He said he believed the country had "lost control of our borders".

Responding to his new appointment, Mr Yusuf said: "It is an honour to be appointed Chairman of Reform UK.

"Against all odds, under Nigel Farage's leadership, our people's movement won four million votes, elected five MPs with 98 second places.

"This is just the beginning. The important work of professionalising the party, building national infrastructure and continuing to grow membership has already begun."

During the election campaign, Mr Farage suggested Mr Yusuf could one day lead the party.