Largest Political Donation in UK History Announced
Cryptocurrency billionaire Ben Delo has donated £36 million ($49 million) to Nigel Farage’s Reform UK, marking the largest political donation ever recorded in Britain.
Delo announced the contribution on Friday, saying the donation was aimed at helping the party compete with better-funded political rivals ahead of the next general election.
In an article published by The Daily Telegraph, Delo said Reform UK lacked the long-term financial support enjoyed by the ruling Labour Party and the Conservative Party.
He said his goal was to create a “fair fight” and a more balanced political environment.
BitMEX Founder Plans Long-Term Funding Support
Ben Delo, co-founder of cryptocurrency exchange BitMEX, said he originally planned to provide Reform UK with £1 million every month until the next general election, expected by mid-2029.
However, he decided to provide the full amount in advance through a single £36 million payment.
Delo said the funding would help Reform UK prepare for a possible future government role.
The 42-year-old businessman had previously donated £4 million to the party through two separate payments in January and March, according to Britain’s election watchdog records.
Delo, who is based in Hong Kong, said he plans to return to Britain before proposed restrictions on foreign political donations are introduced.
Donation Raises Questions Amid Reform UK Funding Controversies
The latest contribution breaks the previous record for the largest single donation from a living individual to a UK political party.
That record was previously held by another cryptocurrency billionaire, Christopher Harborne, who donated £9 million to Reform UK last year.
Reform UK was founded in 2021 from the remains of Nigel Farage’s Brexit campaign and has gained support with its anti-immigration policies.
The party had led several national opinion polls but has faced pressure in recent months due to funding controversies.
The announcement comes shortly after police expanded an investigation into allegations involving potentially illegal donations to Reform UK.
Nigel Farage has faced scrutiny over the party’s financial arrangements and a separate £5 million gift from Harborne.
Farage has denied any wrongdoing and said he was “honoured and humbled” by Delo’s support.
He said the billionaire’s donation showed confidence in Reform UK’s political future.
