A little more nuanced than that, at the bottom of the article it says:

According to a 2014 Gigaom interview with Paul Kane, then chairman of the Internet Computer Bureau, the domain name registry is required to give some of its profits to the British government, for administration of the British Indian Ocean Territory.[23] After being questioned as a result of the interview, the British Government denied receiving any funds from the sale of .io domain names, and argued that consequently, the profits could not be shared with the Chagossians, the former inhabitants forcibly removed by the British government.[24] Kane, however, contradicted the government’s denial.[25][26]