Nick Candy the property tycoon has pledged to give Reform UK a seven-figure sum after defecting from the Tory Party.

The Billionaire quit his Conservative Party membership and has now become Nigel Farage’s Treasurer and Candy will take up the new role in 2025.

Reform UK has received a series of Tory defectors, and the billionaire property tycoon is the “latest coup” as Farage is preparing for the local elections in May 2025.

Journalists asked Candy will he be donating any money himself to Reform UK, he said, “of course,” he will give the political party “seven figures.”

Farage was asked if Reform UK is the party for the mega wealthy, he said, “No, we haven’t sold a single peerage.”

He added, “We need ammunition. We can’t fight big national campaigns without the money.”

In a statement released on Tuesday, 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.”

Farage said, “I warmly welcome this decision. We are the fastest-growing movement in British politics today and Nick’s efforts will help Reform UK transform our country.”