Full Breakdown
Record £36 million Gift Fuels Reform UK Surge and Heightened Scrutiny
By Drooid · · How we work
Core Event: Ben Delo’s £36 million Gift to Reform UK
On September 11, cryptocurrency entrepreneur Ben Delo announced a lump-sum donation of £36 million to Reform UK, the party led by Nigel Farage. The payment, described as a “record donation,” is intended to fund the party’s campaign through 2029. Delo, a former BitMEX co-founder, was convicted in the United States in 2022 for inadequate anti-money-laundering controls and received a presidential pardon in 2025. Reform UK has said it is confident that Delo’s contribution complies with the UK’s donor-residence rules.
Background & Context
Reform UK was founded less than a decade ago by Nigel Farage, a former metals trader and long-time Eurosceptic politician. Prior to Delo’s gift, the party received £15 million from Thailand-based Christopher Harborne and a £9 million donation from another crypto investor in the previous year. The previous overall record for a living donor was £10 million, bequeathed to the Conservative Party by John Sainsbury in 2022. Delo’s donation therefore eclipses all prior contributions to any UK party.
Data & Statistics
- £36 million from Ben Delo to Reform UK (record size).
- Since July 4 2024, Reform UK has taken ?£34 million in donations, compared with >£21 million for Labour (including the Co-operative Party) and ?£24 million for the Conservatives.
- The donation represents roughly one-third of the total funds Reform UK has raised since the last general election.
Official Statements & Responses
- Reform UK maintains that Delo’s residence status satisfies the 12-month residency requirement, and therefore the party does not need to return any portion of the cash.
Criticism & Opposition
Labour figures have expressed alarm that a single donor can out-spend an entire party’s general-election budget. Police investigations into Reform UK’s overseas funding and a standards inquiry into a separate £5 million personal gift to Farage have intensified scrutiny. Critics also note that Delo’s conviction and subsequent pardon raise questions about the ethical implications of allowing such funds to flow into UK politics.
Conflicting Reports & Gaps
Sources differ on Delo’s personal motivations. No source provides an independent legal assessment of whether the donation fully complies with the UK’s political-donation regulations, leaving a gap in verification of the party’s compliance claim.
What’s Next
The Labour government has signalled that it will examine legislation to curb “mega-donations,” though no timetable has been set. The next major fiscal event is the Budget on October 28, a scheduled date that may shape the political calculus around funding reforms. Reform UK is expected to allocate Delo’s funds across its campaign activities through the remainder of the parliamentary term, potentially influencing the party’s performance in the next general election.