Nigel Farage has found his ‘donor in chief’ to fund his push to be PM – and it is not Elon Musk

Nigel Farage will today unveil the latest defector from the Tories who he hopes will be able to fund Reform UK’s push to win the general election in 2029.

After speculation that X owner Elon Musk was about to give Reform £80 million, Mr Farage has produced a different donor who intends to break fundraising records.

London property magnate Nick Candy, who previously bankrolled Tory campaigns including Shaun Bailey’s attempt to become London Mayor, has joined his famous Australian singer/ actress wife Holly Valance as a member of Reform UK.

Mr Candy, who is friends with Mr Farage, Donald Trump and Boris Johnson, will be the public face of a number of wealthy donors and plans to celebrate his official defection by hosting a major lunch with other potential donors and Mr Farage today in London.

Speaking to The Independent last night, he said: “I will also raise Reform more money than any political party in the UK has ever raised. Nigel will be the next PM of the UK.”

He added: “There will be a massive exodus all coming to Reform.” Mr Candy later told GB News he planned to raise more than £40 million to make Mr Farage prime minister after the next election.

Asked how much he could raise for Reform, he said: “I think for past general elections, sort of £25 million to £40 million has been raised for previous parties, and I think I will do significantly better than that - more than £40 million.

“Already this morning, I’ve had millions of pounds worth of donations from people that have never donated to a political party in this country. But it’s not just about getting rich donors and billionaire people or millionaire people.”

Mr Candy has been close to Reform through his wife for a number of months and helped raise money for them and president Trump a few months ago. It is understood though that he had waited to see who won the Tory leadership election before making a final decision to jump parties.

His defection will be a blow to new leader Kemi Badenoch who has started her leadership having to fight off the continued threat from Reform both in the UK and in the way it affects Tory relations with Trump’s Republicans in the US.

The Conservatives have been forced to cut down on the number of staff because of a shortage of funds and another rich donor going elsewhere will be a problem.

Mr Candy’s defection follows former MP Andrea Jenkyns joining Reform last month as the mayoral candidate for Lincolnshire. Conservative Home founder Tim Montgomerie also switched last week.

Mr Candy and his brother purchased their first property in 1995, a one-bedroom flat in London, using a £6,000 loan from their grandmother – and went on to become self-made billionaires.

Having been a Conservative Party member and donor since 2009, he has donated significant sums of money and has raised millions more, contributing to many successful campaigns. This latest coup for Reform UK highlights the rapid growth of the party as we head towards the English County Council elections in May 2025 and beyond.

Mr Candy said: “I have today resigned my membership of the Conservative Party after many years of active support and substantial donations to the party. I am sorry to say there have been too many broken promises and a complete breach of trust with the wealth creators in our country. 

“Nigel Farage is a close personal friend of mine, and Reform UK represents the future of British politics. I am pleased to announce that I will now become the Treasurer for Reform UK and intend to raise enough funds for them to win the next general election. I will take up the role in the new year.”

Welcoming his latest recruit, Mr Farage said: “We are the fastest-growing movement in British politics today, and Nick’s efforts will help Reform UK transform our country.”