Rupert Lowe, leader of the hard-right party Restore Britain, stated Tuesday that he deliberated over an offer from tech billionaire Elon Musk to provide his party with "as much money as we want." Lowe ultimately rejected the donation, made at a Mayfair fundraiser in February, citing "optics" and the illegality of accepting foreign funding.
Musk, owner of the X platform, has publicly supported Lowe's party, which was established after Lowe's suspension from Reform UK last year. Musk has frequently endorsed Lowe's posts on X, advocating for the party's success and stating, "It will win. It must win. To save Britain."
Lowe reportedly conveyed Musk's substantial financial offer to other attendees at the fundraising event, which was held for Restore Britain's "Cromwell Club" donor network. However, Lowe emphasized that Musk's moral and social media support is "incredibly powerful" and not subject to disclosure requirements because it is not tangible.
Under current UK electoral law, political parties can only accept donations from permissible donors, defined as registered UK voters or companies registered in the UK. Donations exceeding £500 from impermissible sources must be declared to the Electoral Commission and returned within 30 days. Failure to do so could result in fines and a criminal investigation.
This revelation comes as Lowe's political rivals, Reform UK, face a Metropolitan Police investigation following an undercover sting operation broadcast by Channel 4. Reform UK recently received a combined £72 million in donations from two cryptocurrency billionaires, Ben Delo and Christopher Harborne, within a 24-hour period. These donations are reportedly the largest ever made to a British political party.
Delo, co-founder of the cryptocurrency trading platform BitMEX, donated £36 million, stating his intention to ensure a "fair fight" in the upcoming election. Harborne, a Thai-British businessman and former Conservative donor, matched the donation with another £36 million. These contributions bring Reform UK's total raised this year to nearly £90 million, significantly exceeding the amounts raised by the Conservative and Labour parties.
Reform UK sources indicated the substantial injection of funds will be used to replicate the infrastructure of established parties, including hiring campaign managers and strategists, and establishing an "attack unit" to target opponents. Party officials stated the funding allows them to "stop worrying about fundraising and step up preparations for Government."
Christopher Harborne is also under investigation by the parliamentary commissioner for standards regarding a £5 million personal gift he made to Nigel Farage, the leader of Reform UK, which may not have been properly declared. Harborne stated that his donations are not in expectation of personal gain, such as a peerage or policy changes, but rather to support a party prepared for government and to ensure a future for his children and grandchildren in Britain.
Nigel Farage expressed his honor and humility regarding the confidence shown by Delo and Harborne, asserting that Reform UK is the only party capable of turning the country around and winning the next general election. Delo stated his donation was intended to counter the "entrenched advantages" of Reform's opponents and ensure a level playing field. Delo announced his return to the UK this year, following Labour's proposed cap on donations from British citizens residing abroad.