Crypto investor Ben Delo said on Friday he will give a record £36 million to Britain’s Reform UK party, a sum that works out to about £1 million each month until the next national election. The announcement comes from the right-leaning Telegraph newspaper, where Delo outlined his rationale for the significant financial commitment.
Large cash boost as Reform UK faces scrutiny
The contribution, roughly $48.7 million, is intended to help the party prepare for a possible government role. The timing aligns with the election slated for mid‑2029. Delo stated that his conclusion from the party’s recent troubles is that they should spend less time trying to raise funds and more time preparing for government. He emphasized that Reform is making serious plans for government, noting that this is more than the Labour Party did before they won in 2024.
Crypto Founder’s Legal History
Delo co‑founded the crypto trading platform BitMEX. He is a British citizen who later pleaded guilty to a U.S. Bank Secrecy Act violation and was pardoned by former President Donald Trump. This legal history adds a layer of complexity to his political involvement, as he has previously been convicted in the United States before receiving the pardon.
In a statement, the investor said the money aims to ensure a “fair fight” with the governing Labour Party and the main opposition Conservatives. He expressed a desire to back a party he wanted to help win and govern, viewing the donation as a necessary step to level the playing field against established political entities.
Reform UK’s Polling Dip
Reform UK, led by veteran Brexit campaigner Nigel Farage, had topped opinion polls for over a year but saw support dip after allegations of improper donations surfaced. Specifically, the party has seen its support wane following a series of allegations regarding donations before the election. Delo did not refer directly to an undercover investigation earlier this month that raised allegations that two senior aides to Farage had broken electoral law by arranging for a foreign donor to pay for political polling. However, Farage was forced to suspend the two senior aides involved in the controversy.
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Writing in the Telegraph, Delo argued the party should shift focus from fundraising to policy development, noting that “it takes time to develop thought‑through policies and draft legislation, and it takes real money.” He explained that understanding the pressure of being a startup under scrutiny was part of his motivation to provide the necessary resources.
Shifting Campaigning Power Balance
The injection of private funds into a smaller party highlights how financial backing can quickly change a political scene. When a single donor supplies enough resources to rival the spending of larger parties, the balance of campaigning power can tilt dramatically, affecting voter outreach and media presence. This substantial sum allows the party to bypass the usual challenges of grassroots fundraising during a critical preparation phase.
Farage welcomed the gift, saying he was “honoured and humbled that Ben Delo has shown such confidence in Reform.” He added, “Ben knows that we are the only party that can turn the country around and reverse Britain’s decline.” Farage’s response shows the importance of the donation to the party’s leadership and its future strategy.
According to the Electoral Commission, Delo has previously given the party £8 million. The new sum dwarfs the former record of £10 million left by businessman John Sainsbury to the Conservatives before his death in 2022. This previous record was held according to the Electoral Commission’s online database, marking Delo’s new contribution as a historic milestone in British political donations.
In his article, the entrepreneur said supporting Reform “takes a thick skin” and suggested that successful businesspeople may hesitate to write cheques for the party. He questioned why successful businesspeople with a stake in mainstream society and a care for their own reputation are shy about writing cheques to Reform. The donation, arriving like a thunderclap on a quiet morning, signals a clear intent to back the movement as it readies for potential governance.
