Reform UK has received a record-breaking £36 million donation from cryptocurrency billionaire Ben Delo, marking the largest single gift ever given to a British political party.
The donation, which surpasses the previous record of a £10 million bequest to the Liberal Democrats from the late Lord Sainsbury, is structured to provide the party with £1 million per month until the anticipated 2029 general election. The full amount has been “front-loaded” in a single payment to support the party’s long-term infrastructure and campaign planning.
Mr Delo, the co-founder of the BitMEX cryptocurrency platform, said the financial support was intended to help the party “prepare for government” and create a “level playing field” against the established political parties.
Donor History and US Pardon
Ben Delo, a British citizen currently based in London, has a high-profile legal and financial history. In 2022, he was convicted in the United States for Bank Secrecy Act violations involving a failure to implement adequate anti-money laundering controls at BitMEX.
However, following the US presidential election, Mr Delo was granted a full pardon by Donald Trump in early 2025. His return to the UK political stage as a major donor comes as the government considers tightening rules on donations from British citizens living overseas, with proposed plans to cap such gifts at £100,000.
As a UK-based citizen, Mr Delo’s current contribution is not expected to be affected by those specific overseas limits, though opposition MPs have used the record sum to call for a broader cap on all individual political donations.
Police Investigation and Internal Resignations
The announcement of the £36 million gift arrives at a volatile time for Reform UK. The Metropolitan Police expanded an investigation into the party’s finances on 9 September 2026, following an undercover sting operation.
The investigation is reportedly focused on the party’s handling of finances and follows allegations regarding potential illegal foreign donations. The Electoral Commission has confirmed it is reviewing information related to the same undercover footage.
The party has also seen significant internal disruption this month. On 4 September 2026, two senior officials—head of policy James Orr and aide Dan Jukes—resigned from their positions. These departures followed an undercover investigation into the party’s internal operations.
Impact on UK Political Funding
The scale of the donation is unprecedented in British politics. For comparison, Financial Times records indicate that most major party donations typically range from five to seven figures.
Reform UK maintains that the donation is fully compliant with all current UK electoral laws. Party leadership has indicated the funds will be used to professionalise its regional branches and develop a comprehensive policy platform ahead of the next national vote.
Official records of the donation are expected to be published in the Electoral Commission’s quarterly figures later this year. Under current rules, all donations over £11,180 to a central party must be declared and the donor’s eligibility as a UK-registered elector must be verified.
