Reform UK secures record donation from BitMEX founder ahead of next general election
Britain’s political funding landscape faces renewed scrutiny as Reform UK receives a £36 million pledge from billionaire BitMEX founder Ben Delo. The commitment is structured as £1 million a month through August 2029, giving Nigel Farage’s party a major financial boost before the next general election.
Highlights
- BitMEX founder pledged a record £36 million ($48.7 million) to Reform UK, paid at £1 million per month until August 2029.
- This donation to Reform UK arrives amid heightened scrutiny and police attention on the party's campaign financing practices.
- The multi-year financial backing enables Reform UK to strengthen and sustain its campaign efforts leading up to the next general election.
Donation structure and election timetable
As first reported by Bloomberg, the pledge marks a record donation to Nigel Farage’s Reform UK and is intended to strengthen the insurgent party’s push for power at the next national vote.The funding totals £36 million, equivalent to $48.7 million, and is set to be paid at a rate of £1 million a month between now and August 2029. That month is described as the latest point at which Labour Prime Minister Andy Burnham can call the next general election.
Political finance scrutiny intensifies
The donation arrives as Reform’s campaign financing attracts unprecedented scrutiny, including from the police. The scale of the commitment is likely to intensify attention on how the party funds its operations as it seeks to fend off critics and expand its electoral reach.For Reform UK, the pledge provides unusually deep financial backing over a multi-year period, potentially improving its ability to campaign consistently and build momentum ahead of the national contest.
In our previous coverage of the UK defence spending target debate, we looked at how rising security, cyber and infrastructure risks are increasing pressure on Labour Prime Minister Andy Burnham to set out a clearer path for higher defence funding. We also outlined the political divide over committing to 3% of GDP by 2030 versus a later target, and noted concerns that years of underinvestment are already affecting readiness, morale and the defence industrial base.
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