Reform receives record £36m donation from cryptocurrency billionaire

Reform UK has recently been the beneficiary of a historic £36 million donation from a British billionaire involved in cryptocurrency, marking the largest single financial contribution ever made to a political party in the United Kingdom. The donor, Ben Delo, shared his rationale for the sizeable gift in an article for the Daily Telegraph, indicating his desire to create a “fair fight and a level playing field.”

Nigel Farage, the leader of Reform UK, expressed his deep gratitude, describing himself as “honoured and humbled” by Delo’s donation. Delo has pledged to allocate £1 million a month until the latest possible date for a Labour-called general election in 2029 but is providing the full amount upfront to avoid potential future restrictions on such large donations. Currently, UK law places no limits on the amount British donors can give to political parties, although there are some constraints, such as a previously attempted cap by Labour on donations exceeding £100,000 from Britons living overseas. Ben Delo, originally from Sheffield and having already contributed £4 million to Reform UK, plans to return to the UK from Hong Kong to continue supporting the party. Notably, Delo received an unconditional pardon last year from former US President Donald Trump concerning a Bank Secrecy Act violation.

Despite the financial boost, Reform UK’s fundraising practices are under investigation. Police are looking into allegations that the party may have violated foreign funding rules, following a broadcast by Channel 4 News. The party has denied any misconduct and pledged full cooperation with the ongoing inquiry. Additionally, Nigel Farage is being examined by the parliamentary standards commissioner concerning whether a £5 million cash donation from Thailand-based cryptocurrency investor Christopher Harborne was properly declared after Farage became an MP before the 2024 election. Farage maintains that the donation was “purely private” and unrelated to his parliamentary duties, thus exempt from registration requirements.

The Metropolitan Police inquiry is also focused on donations received by Reform in the weeks leading up to the last election, including funds given directly to the party by Fiona Cottrell, mother of George Cottrell, a close associate of Farage. The investigation is also scrutinizing a payment of £1 million received by a company controlled by Reform’s deputy leader, Richard Tice, from Fiona Cottrell in June 2024. The issue of donation limits has sparked significant controversy, with Reform and its major supporters accusing Labour of attempting to block their progress by imposing restrictions on overseas donations. The government is addressing this through the Representation of the People Bill, which seeks to limit overseas voters who move to the UK from donating more than £100,000 within a year of arrival.

Previously, Christopher Harborne made headlines for a £9 million donation to Reform UK, which was the largest single political party donation by a living individual in the UK at that time—until Delo’s recent contribution surpassed it. Even though the Conservative Party once received a £10 million legacy donation, Delo’s £36 million gift now stands as the undisputed record. Critics have condemned the donation and the party’s fundraising methods. A Labour spokesperson accused Farage of being “still up to his neck in scandal” and urged Reform UK to fully cooperate with authorities, while Liberal Democrat Cabinet Office spokesperson Lisa Smart warned that Farage is attempting to “bring Trump’s America to our shores by buying his way into power,” calling for limits on political donations to protect democratic integrity

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