Reform UK’s treasurer Nick Candy has claimed the party has “a number of billionaires” ready to donate to Nigel Farage’s party in addition to tech entrepreneur Elon Musk.
Mr Candy said the party would cause “political disruption like we have never seen before”, with the money set to be spent on grassroots campaigning, data and polling.
Earlier this month the Reform leader and treasurer met Mr Musk at Donald Trump’s Mar-a-Lago resort in Florida, fuelling speculation about a substantial donation.
Property developer Mr Candy told the Financial Times that he would “raise more money than any other political party” and that Reform would have more members than the Conservative party within three months. The party has launched an online site with a counter displaying its membership and the target needed to overtake the Tories.
“We have a number of billionaires prepared to donate to the party, not just Elon,” Mr Candy said.
“The Reform party is the disrupter — this is the seed round, the series A. This will be political disruption like we have never seen before.”
Mr Candy, who arranged the meeting between Mr Musk and Mr Farage, said the US billionaire would “be the first of many wealthy donors legally allowed to donate”, although he did not name any others.
The treasurer, who switched from the Tories and promised a “seven-figure sum” for Reform, said the party had “more Conservative values in its little finger than the Conservative party”.
“Even the big Tory donors are calling me,” he told the Financial Times. “A lot of people will join us. The movement has started.”
Rules preventing foreign donations mean Mr Musk would have to funnel any donation through one of his UK-based businesses.
Parties can accept donations from a number of sources including individuals on the UK electoral register or a UK-registered company.
The head of the Electoral Commission, Vijay Rangarajan, has called for the rules to be strengthened to “protect the electoral system from foreign interference”.
Commons Leader Lucy Powell said any proposals to change the law would not come until next year.
She told Sky News’s Sunday Morning With Trevor Phillips there will be an Elections Bill “probably in the next parliamentary session” which could include “making sure that the issues around donations are … fair and robust”.
Shadow cabinet minister Kevin Hollinrake said he would not seek to block Mr Musk making a donation, but suggested he would like him to back the Tories instead.
He said: “I have great faith in the British public. I don’t think the British public could be easily bought. I think they’ll decide at the next election who they think the best party is to run this country. And I think they’ll choose Conservatives.”
