Reform UK has received an unparalleled £36 million donation from British cryptocurrency billionaire Ben Delo. This significant financial injection marks the largest single political gift ever recorded in the United Kingdom.
Mr. Delo, who recently returned to the UK from Hong Kong, faced conviction in the United States in 2022. He was found guilty of failing to implement adequate anti-money laundering controls within his trillion-dollar cryptocurrency business, BitMEX. However, he later received a pardon from then-US President Donald Trump.
The substantial sum provides a considerable boost for Reform UK leader Nigel Farage. His party currently faces a police investigation concerning overseas funding. Additionally, a separate standards inquiry is examining a £5 million undeclared personal gift from another donor, Christopher Harborne.
Mr. Delo’s £36 million dwarfs Mr. Harborne’s £15 million contribution to Reform UK. Consequently, Mr. Delo now stands as the largest individual political donor in British history. He has also previously given the party £8 million since the start of the year.
Concerns had arisen regarding residency rules, which typically require donors to be UK residents for 12 months before giving over £100,000. However, Reform UK earlier insisted it was confident Mr. Delo’s donation would comply with regulations. They confirmed no cash would need to be returned.
This massive influx of cash highlights the growing trend of “mega-donors” in British politics. Labour has previously considered implementing stricter controls on such large contributions. Yet, party leaders like Keir Starmer and Andy Burnham have recently shown hesitation towards a universal cap.
More recently, the government announced it is exploring methods to manage these mega-donations. The aim is to prevent a few individuals from wielding excessive political influence. Labour MP Stella Creasy, a strong advocate for donation caps, expressed her concern.
She stated, “The government has admitted UK mega-donors are a problem – donations like this show why we must act.” Ms. Creasy urged action to prevent such funds from distorting the upcoming general election. She highlighted the urgency of confirming a cap on donations.
Many other Labour MPs reportedly share this alarm over the significant financial injection for Reform. They worry about its potential impact ahead of the next election. This single Reform UK donation surpasses Labour’s entire spending in the last general election.
Mr. Delo explained his motivations in an article published in April. He cited England as his home and identified “the entrenched self-deception of our elites” as the primary obstacle to national recovery. Furthermore, he noted, “Their regime of nonsense now poses such a grave threat to the UK that, for the first time in my life, I’ve become politically active.”
He added that, as someone on the autism spectrum, he dislikes the “official culture of government [that] now forces everyone to be chronically dishonest.” Mr. Delo specifically mentioned public discourse surrounding transgender people as an example. He views himself as a champion of free speech.
The Oxford graduate supports over 50 organisations spanning various political and public life sectors. These include non-affiliated groups and individuals, operating from a political base near Westminster Abbey. His lawyers previously confirmed he provides space for diverse views, not necessarily endorsing every opinion expressed.
Mr. Farage, reacting to the news, expressed his gratitude. He declared, “I am honoured and humbled that Ben Delo has shown such confidence in Reform. Ben knows that we are the only party that can turn the country around and reverse Britain’s decline.”
