Tory donor defects to Reform and pledges £1 million to 'bring this country back to its glory'

27 April 2025, 10:15 | Updated: 27 April 2025, 13:03

One of the Conservatives' biggest donors has defected to Reform UK - as he's convinced Nigel Farage could be the next Prime Minister.

Bassim Haidar, 54, resigned his membership from the Conservatives earlier this year, claiming they had "lost their way".

Mr Haidar, who donated more than £700,000 to the Conservatives during Rishi Sunak's premiership, is now convinced Nigel Farage could be the next prime minister and “bring this country back to its glory”.

It comes as Kemi Badenoch did not rule out forming local pacts with Mr Farage's party.

Tory shadow minister Kevin Hollinrake said he thought it would be a mistake for local leaders to team up with Reform, while admitting the decision would be up to them.

The tech billionaire has already given Mr Farage £200,000 for the local election effort - the biggest single donation to any party in this campaign.

“I’ve always been pro-business and I always supported parties that supported businesses. The Conservative Party stopped listening and, for me, I had to go with the party that I believe can actually reset and change the status quo in the UK," Mr Haidar told The Telegraph.

“Nigel and Reform are the only ones that can do this and that’s why I’m supporting them. If we want a better future, we have to stop funding the past.”

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He said Mr Farage was “listening to the people, he is addressing their concerns, he is talking about immigration in a way that no one has actually spoken about, he is willing to do things that I think the other parties aren’t willing to do”.

Mr Haidar said the Tories manifesto pledge last year to abolish non-dam tax status went against everything the party should stand for.

The father-of-five was born in Nigeria to Lebanese parents and moved to the UK in 2010.

He said he is planning to leave the UK due to Labour's non-dim tax rules and inheritance tax.

He told the newspaper that in the luxury apartment building where he lives "“four wealthy families left on March 31. They have left, gone, they said ‘we can’t stay here any more’.”

Mr Haidar continued: “I believe [Farage] would reform tax, he would encourage investment, maybe come up with a new non-dom tax regime, so hopefully once he becomes prime minister we’re going to see the UK becoming great again.”

He added: "He is leading in the polls and people believe in him.

“Nigel has all it takes, and if funding is an issue I don’t think he will have that issue going forward.”

Mr Haidar has committed £1 million to Reform UK, gifting further credibility to Farage's party.

The tech mogul is a member of the World Economic Forum, and built his billions creating communication networks in Nigeria.

He owns a £100 million property portfolio in the UK, as well as a medicinal cannabis farm and a hotel in the Caribbean.

Optasia, one of his companies, provides micro-loans in 42 of the world's poorer countries boating more than 900 million customers.

“I have a few friends that are seriously, seriously considering [donating to Reform]”, he said.

“Some of the statements that Nigel made recently have resonated with them and I have got calls and they have told me they really believe that he is on the right track and they have become very encouraged.

“I know it will come. Like everything else you have to be a pioneer, you have to lead and once you lead people will follow. Nigel has done it from a politics point of view, I want to do it from a support point of view.”

Despite Reform UK's party size, Mr Haidar is convinced they could win the next general election.

“They have a lot of momentum behind them,” he said. “Yeah they are a small party but what does that actually mean? It means nothing. All of us were small once.

“It’s the same thing I said to people who thought I would never make it in life, when I was in my 20s and I was starting out in business and I had something to prove, and look where I am today.”

Mr Haidar claimed he has meetings with the Conservative-run Treasury and suggested a flat £200,000 fee for non-doms to cover overseas earnings but they did not listen.

He said: “I’ve lost confidence [in the Tories] and I’ve got to do what’s best for me and the country and my family.”

Mr Farage told The Telegraph: “Reform has achieved a huge amount on a small budget so far. With a donation like this, we can rapidly build out our team and professionalise further as we head towards the next general election.

“This is especially true if others follow Bassim’s lead.”