In his victory speech at Ukip conference in Torquay, he called on members to rally around the party.
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Ukip stepped back from picking Anne Marie Waters, a notorious anti-Islam activist, as its new leader, saving the party from a threatened mass walk-out.
Bolton said he would "have a conversation" with Farage on a future Ukip role, and wanted to talk to all the other candidates, including Waters, before making decisions about them.
The founder of Sharia Watch lost out to little-known Henry Bolton, who won by 3,874 votes to Ms Waters 2,785 - promising to "move away" from hardline rhetoric about Islam.
Under his leadership, the party will continue to position itself as a bulwark against a "soft" Brexit and to cry betrayal at any move away from a complete severing of connections with the European Union.
Bolton went further and claimed that Ukip would be in danger of becoming the "UK Nazi party" if it chose the wrong leader.
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He later shifted to stand-up and sketch comedy, performing for a time with a Second City touring company. Null is a musical comedian and improviser hailing from iO Chicago .
"We can't lead the nation and we can't hold the government to account and we can't achieve our core goal at all", he said.
"If you look at the things I've done, you'll see a certain degree of endurance there, both physical, emotional and political", he said.
Last year, his wife gave birth to their daughter Victoria on a train that had just pulled into St Pancras Station - his third daughter.
Asked if he would "ban the burka", Mr Bolton said: "I don't think it's about banning the burka, is it?"
Not all senior Ukip figures are thrilled by the rise of Bolton, or convinced he has the charisma and personality to turn the party around, with one predicting that, while Waters would destroy the party quickly, Bolton would bring "a slow death".
The favourite to replace her, Steven Woolfe, pulled out following an altercation with a fellow MEP at the European Parliament that left him hospitalised.
He said: 'I do not see myself now as simply being your leader, I see myself as serving this party. The party won no seats and just 1.8% of the national vote, down from the 12.6% of the vote it won in 2015.