British cryptocurrency billionaire, Ben Delo, has donated £36m to Reform UK, making it the largest single donation ever made to a political party in the United Kingdom.
Delo, who was born in Sheffield, announced the donation in an article published by the Daily Telegraph, saying he wanted to ensure the party had a “fair fight and a level playing field”.
The donation surpasses the previous record of £9m given to Reform by Thailand-based cryptocurrency investor Christopher Harborne last year.
The Conservatives had also received a £10m legacy donation, but Delo’s latest contribution is now the biggest single donation to a UK political party.
Delo, who has already given £4m to Reform, said he had planned to donate £1m every month until the latest date Labour could call a general election in 2029.
However, he decided to provide the entire amount immediately amid government efforts to restrict large political donations from British citizens living overseas.
There is currently no limit on the amount UK-based donors can give to political parties.
However, Labour has introduced a proposed £100,000 limit on donations from British citizens living abroad and plans to extend the restriction to people who have recently returned to the UK.
Explaining his decision, Delo wrote, “Unlike the people who express mock concern for the health of ‘our democracy’ while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field.”
He added, “My conclusion from Reform’s recent troubles is that they should spend less time trying to raise funds to compete on equal terms and more time preparing for government.”
Reform UK leader Nigel Farage said he was “honoured and humbled” by the donation, which comes as the party faces increased scrutiny over its finances and funding arrangements.
Police announced an investigation on Thursday into allegations that Reform broke foreign funding laws after a Channel 4 News report featured undercover recordings of two senior party aides apparently discussing ways to secure donations from overseas.
Reform has denied wrongdoing and said it would cooperate with the investigation.
Farage is also being investigated by the parliamentary standards commissioner over whether he should have declared a £5m cash gift from Harborne before the 2024 election.
Farage has maintained that he was not required to register the gift because it was “purely private” and unrelated to his parliamentary or political activities.
The Metropolitan Police is separately examining whether payments made to Reform in the weeks before the 2024 election complied with donation laws.
Responding to Delo’s latest contribution, a Labour Party spokesperson accused Farage of remaining “still up to his neck in scandal” and said the questions surrounding him were continuing to grow.
“Reform UK can’t buy their way out of questions about sleaze, criminal mates and dodgy finances,” the spokesperson said.
The Liberal Democrats also criticised the donation, with Cabinet Office spokeswoman Lisa Smart accusing Farage of seeking to “bring Trump’s America to our shores by buying his way into power”.
“He’s trying to get into Number 10 as if it’s a stop on a Monopoly board,” she added. “It can’t go on like this. Andy Burnham needs to introduce a cap on political donations. Our democracy depends on it.”
