Musk mulls funding for Farage's reform UK in political shift
British media report that Elon Musk, a well-known billionaire and close associate of U.S. President-elect Donald Trump, is considering financial support for Nigel Farage's party, Reform UK. The potential donation has been covered by publications such as the Financial Times and the Daily Telegraph.
Speculation about financial support from Elon Musk arose after a statement by Nigel Farage, who said that the American businessman is "seriously considering" making a donation to Reform UK.
Farage, known for his Brexit campaign, seeks to strengthen ties with the U.S. President-elect.
Earlier this week, the Briton, along with the new party treasurer, Nick Candy, visited Donald Trump at his Mar-a-Lago residence in Florida. After the meeting, Farage posted a picture with Musk on social media, which fueled speculation about possible financial support.
Financial plans of Reform UK
Nick Candy, the new treasurer of Reform UK and a former donor to the Conservative Party, announced that by 2025, the number of Reform UK donors will exceed the number supporting the Tories. Currently, about 130,000 people support the Conservative Party, while Reform UK has around 100,000 supporters.
In the July parliamentary elections, Farage's party obtained 14.3% of the votes, which translated into five seats in the House of Commons. The goal of Reform UK is to win the next elections, which will be held no earlier than 2028.
Research findings from the London School of Economics, cited by British newspapers, indicate that the UK's exit from the EU did not have as negative an impact on British trade as previously predicted.
