Richard Tice claimed Reform UK wouldn't exist without his money. (Image: Getty)
Richard Tice has claimed Reform UK would not exist without him as party infghting continues following the removal of the whip from Rupert Lowe earlier this month. The MP for Boston and Skegness said his funding was crucial in keeping the party afloat, though it remains ultimately owned by leader Nigel Farage. Mr Tice took over Reform after Mr Farage resigned in 2021, and over the next three years, he loaned the party ￡1.4 million - equating to 80% of its funding.
He told The Times: "People were laughing at me as I kept funding it. But I just quietly ignored the abuse and got on with it." When Mr Farage made his return and Mr Tice became deputy leader in 2024, questions arose as to whether he would have secured this position had it not been for his money. Mr Tice didn't appear to dispute this, telling the outet: "There would be no Reform if I hadn’t put my money where my mouth is."
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Reform UK is owned by Nigel Farage but bankrolled by Richard Tice. (Image: Getty)
His personal company, Tisum Investments, was loaning Reform money before and during his time as leader, with amounts between ￡10,000 and ￡50,000. Another company, Britain Means Business, also contributed ￡150,000 as of the end of 2023.
Before getting into politics, the former Reform leader made his fortune in the property business after being born into an already wealthy family.
He worked as a housing developer before joining in grandfather's company, The Sunley Group - where he was its joint CEO for 14 years until h left in 2006.
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Since then, Mr Tice has run a debt advisory consultancy and a property investment firm.
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He then became one of the Brexit Party's directors in 2018 after it changed from UKIP, and an MEP in 2019.
Now, amid concerns that Reform is run by people who "bought" their way into politics, Mr Tice has claimed the party is an "entrepreneurial political start-up".
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He told the outlet: "No, you see it’s not been bought. What’s been done is we’ve backed ourselves. I’ve always described it as an entrepreneurial political start-up.
"And people like an entrepreneur to say, 'I believe in this product so much that I’m going to put my own money in first'.
"What people want in this country is high-quality politicians who’ve got a track record of success. And we’re the most successful, we're the most businesslike."