British crypto investor Ben Delo has announced plans to donate a record £36 million ($48.7 million) to Nigel Farage’s Reform UK before Britain’s next general election.
Delo said he plans to give the party £1 million each month as it prepares for the election, which is expected by mid-2029. He said the money would help Reform strengthen its preparations for a possible role in government.
Delo is the British co-founder of cryptocurrency trading platform BitMEX. He was previously convicted in the United States of violating the Bank Secrecy Act. US President Donald Trump later pardoned him.
Delo Wants Reform to Prepare for Government
In an opinion article published by the Telegraph, Delo said Reform should focus more heavily on preparing for government rather than concentrating mainly on fundraising.
He argued that developing detailed policies and preparing legislation requires significant time and resources. According to Delo, Reform is already making plans for government.
The planned contribution comes as Reform faces increased scrutiny over its finances and political fundraising. The party enjoyed a strong lead in opinion polls for more than a year. However, its support has weakened in recent months.
Delo said he wanted to help create what he described as a “fair fight” against Labour and the Conservatives, Britain’s two main established parties.
Farage Welcomes Record Donation
Reform UK leader Nigel Farage welcomed Delo’s decision to provide the party with such a large financial contribution.
Farage said he was “honoured and humbled” by Delo’s confidence in Reform. He also argued that the party could help reverse what he described as Britain’s decline.
Delo has previously provided substantial financial support to Reform. His earlier donations to the party totalled £8 million.
The latest planned contribution would therefore represent a major increase in his financial backing for the party.
Donation Comes After Reform Controversy
The announcement follows a period of controversy surrounding Reform’s fundraising activities. Earlier this month, an undercover investigation raised allegations that two senior Farage aides had broken electoral law.
The allegations involved claims that the aides arranged for a foreign donor to pay for political polling. Farage subsequently suspended the two aides.
Delo did not directly refer to that investigation in his Telegraph article. Instead, he said his experience as someone who had built a startup under scrutiny had influenced his decision to support Reform.
He also acknowledged that financially backing the party could carry reputational risks for business figures.
Record-Breaking Political Donation
The proposed £36 million donation would dwarf the previous record contribution listed in the Electoral Commission’s database.
According to the database, businessman John Sainsbury, who died in 2022, left £10 million to the Conservative Party. Delo’s planned contribution would therefore be more than three times that amount.
For Reform UK, the funding could provide significant resources ahead of the next election. The party would have additional money to develop policies, prepare election campaigns and build its organisation.
However, the donation also places Reform’s finances under further public scrutiny. The party will face pressure to ensure that its fundraising and spending comply with Britain’s electoral rules.
Delo said he wants to support a party that he believes can both win an election and govern effectively. With the next general election still years away, his contribution signals a major financial commitment to Reform’s long-term political ambitions.
