Ben Delo, a 42-year-old British crypto billionaire and philanthropist, has made a record-breaking donation of £36 million to the UK political party Reform UK. This contribution is the largest single donation ever made by a living individual in British political history, quadrupling the previous record.
Delo, who co-founded the cryptocurrency trading platform BitMEX, moved back to the UK earlier this year to ensure he could continue donating to Reform UK after the government imposed a cap on expat donations. He stated his move was to counter what he perceived as efforts by Labour leader Sir Keir Starmer to disadvantage the opposition party.
Nigel Farage, the leader of Reform UK, expressed his honor and humility regarding the donation, which is intended to fund the party's efforts in the lead-up to the next general election. The donation was made in a single sum, potentially to preempt any changes in donation regulations.
Delo's background includes being diagnosed with Asperger's syndrome, which led to his mathematical talents being nurtured. Despite early educational challenges, including expulsions from three primary schools, he excelled at Oxford University, graduating with a double first in mathematics and computer science. He later worked for IBM and GSA Capital before becoming fascinated by Bitcoin.
In 2014, Delo co-founded BitMEX in Hong Kong. The platform became a major player in cryptocurrency trading. By 2018, he was recognized as the UK's youngest self-made billionaire. However, BitMEX and its founders faced charges from the U.S. government in 2020 for allegedly failing to implement anti-money laundering controls and targeting U.S. users from offshore. Delo pleaded guilty and paid a $10 million fine as part of a settlement, though he has defended his actions, describing the charges as targeting early crypto pioneers unfairly.
Delo's philanthropic efforts extend beyond political donations. He has previously funded mathematics research and education initiatives, supported autistic children, and championed free speech causes. He has funded organizations such as the Free Speech Union and the Committee for Academic Freedom. His commitment to free speech was reportedly influenced by cases where individuals were prosecuted for social media posts.
In a notable gesture, Delo has also reportedly funded the renovation of the staff lavatories at a primary school in Oxford that he had vandalized in his youth. BitMEX is scheduled to cease operations at the end of the month following a strategic review.