Alexander Temerko, a Ukrainian-born British businessman, praised Prime Minister Theresa May for making his friend and ally foreign secretary.

He said the former London mayor would be “very loyal” to Mrs May but predicted he would one day succeed her.

He said he would continue to support the Conservatives with “serious money” and argued for a stronger role for business people and donors like himself.

He has also lobbied hard for the government to ensure more British-made components are used in North Sea oil and gas projects, something with which he claims to have had some success.

He urged Theresa May to set up an advisory council of business leaders, and suggested there should also be a greater role for grassroots activists in the Conservative Party.