Table of Contents
Key Points
- Bassim Haidar leaves the Conservative Party and donates $1.3 million to Reform UK, backing Nigel Farage’s pro-business platform.
- Haidar, a former major Conservative donor, cites the party’s failure to support business growth as the reason for his political shift.
- Haidar’s donation highlights growing dissatisfaction among business leaders and strengthens Reform UK’s position ahead of local elections.
Nigerian-Lebanese billionaire Bassim Haidar has made headlines with his decision to defect from the Conservative Party, donating £1 million ($1.3 million) to Reform UK in support of leader Nigel Farage. A longtime supporter of the Tories, Haidar is now backing Farage, whom he believes can restore the UK to its former glory.
From Tory donor to reform advocate: A bold political move
Once one of the Conservative Party’s largest donors, Haidar contributed over £700,000 ($0.93 million) during Rishi Sunak’s premiership. However, disillusioned with the party's direction, he resigned earlier this year, citing a loss of alignment with his pro-business values.
Haidar’s shift to Reform UK is a response to what he sees as the Conservatives' failure to maintain their commitment to business interests and fiscal policies conducive to economic growth. “I’ve always supported pro-business policies, and the Conservative Party has stopped listening,” Haidar explained. “Reform UK, led by Farage, is the only force capable of resetting the UK's political landscape. I believe this party offers a vision for a better future.”
Haidar’s support: Transforming Reform UK’s political prospects
Haidar’s $1.3 million donation is more than just financial support; it is seen as a strategic move to galvanize Reform UK’s efforts in the upcoming local elections.
His significant contribution is expected to inspire other wealthy individuals to follow suit, potentially shifting the political dynamics. In addition to his monetary commitment, Haidar believes that Farage’s policies—particularly on taxation and business investment—align with his vision for a prosperous UK.
In contrast to Labour’s plans to abolish non-domiciled (non-dom) tax status, which Haidar strongly opposed, he sees Farage as someone who listens to the people and addresses their concerns, especially on topics like immigration and economic reform.
Global business leader rejects Trump’s high-tax visa plan
Beyond British politics, Haidar has voiced concerns about the global investment climate. He recently criticized former U.S. President Donald Trump’s $5 million visa plan, arguing that “punitive taxes will deter investors,” despite promises of economic growth and job creation.
Born in Nigeria to Lebanese parents, Haidar launched his first venture at 20 and now commands a conglomerate with $1.6 billion in annual revenues, spanning medicinal cannabis, telecoms, fintech, logistics, and energy. His 2003-founded Channel IT has become a leading provider of telecom infrastructure across Africa and the Middle East.
As Reform UK gains momentum under Farage’s leadership, Haidar’s high-profile defection — and major financial support — signals a deepening shift among business elites disillusioned with the traditional political establishment.
