Reform UK has secured a record-breaking £72 million in donations from cryptocurrency billionaires Ben Delo and Christopher Harborne, who contributed £36 million each. Nigel Farage plans to use the windfall to professionalize the party's infrastructure and prepare for government. However, Deputy Prime Minister Angela Rayner warned that retrospective legislation capping overseas and returning donor contributions at £100,000 could force Reform UK to return the funds, sparking fierce debate over political financing.
Record £72 million donations
- ▪Reform UK leader Nigel Farage stated that the £72 million in donations would allow the party to fight the next general election on a level playing field
- ▪Reform UK received two record-breaking donations of £36 million each from cryptocurrency billionaires Ben Delo and Christopher Harborne, totaling £72 million within a 24-hour period
- ▪The combined £72 million donation to Reform UK is the largest single political donation in British history and exceeds the total amount raised by all UK political parties last year
Ben Delo crypto billionaire
- ▪Ben Delo moved back to the United Kingdom from Hong Kong to comply with proposed changes to political donation laws regarding overseas electors
- ▪Ben Delo was pardoned by US President Donald Trump in 2025 after pleading guilty in 2022 and paying a $10 million fine for failing to implement anti-money laundering controls at BitMEX
- ▪Ben Delo, the 42-year-old co-founder of cryptocurrency trading platform BitMEX, donated £36 million to Reform UK in a lump sum to avoid potential future tightening of political donation rules
Christopher Harborne matching gift
- ▪Christopher Harborne, a Thailand-based tech investor and UK registered voter, matched Ben Delo's £36 million donation to Reform UK, stating his competitive spirit inspired the matching gift
- ▪Christopher Harborne is currently under investigation by the Parliamentary Standards Commissioner over whether a personal £5 million gift to Nigel Farage should have been declared
- ▪Christopher Harborne stated that he expects nothing in return for his donations, including no peerages, knighthoods, government contracts, or policy changes
Reform UK infrastructure spending
- ▪Reform UK economic spokesman Robert Jenrick stated that the party has no intention of returning the £72 million, asserting the donations are entirely in line with current and future laws
- ▪Reform UK plans to use the £72 million to professionalize its party infrastructure, appoint campaign managers in target constituencies, hire policy experts, and establish an attack unit
- ▪The Metropolitan Police is conducting a criminal investigation into allegations that senior Reform UK figures breached legal donation rules following an undercover sting by Channel 4 News
Retrospective donation law changes
- ▪Deputy Prime Minister Angela Rayner suggested Reform UK could be forced to return the £72 million under the Representation of the People Bill, which will retrospectively cap overseas donations
- ▪The proposed Representation of the People Bill would cap political donations from British citizens living abroad or those who returned within 12 months to £100,000 a year, backdated to March 25, 2026
Political funding cap calls
- ▪Labour MP Stella Creasy and other campaigners called for an immediate cap on all domestic political donations to prevent wealthy individuals from distorting elections
- ▪Liberal Democrat Cabinet Office spokeswoman Lisa Smart called for emergency legislation to cap campaign donations, stating that no politician should be able to buy their way into office
- ▪Unite General Secretary Sharon Graham and Trades Union Congress leader Paul Nowak suggested capping donations from individuals while exempting trade union funding
Debatable claims
- ▪Political donation caps should exempt funding from trade unions
- ▪Reform UK should return its £72 million in crypto donations
- ▪The UK should cap all individual political donations
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