Conservative Tycoons Splash the Cash: Leadership Hopefuls Rake in Big Donations to Replace Sunak

Conservative leadership frontrunner Robert Jenrick has raised the most cash in the party leadership race so far, bringing in over £200,000 from funders since July. 

The former immigration minister and mural-defacer in chief came out top in the first round of leadership voting by Conservative MPs on Wednesday. Jenrick has previously faced a major donation scandal after insisting a planning application from a party donor should be pushed through.

‘Anti-woke’ former trade secretary Kemi Badenoch, who almost came third in the initial MP vote on Wednesday, has hauled in the second largest amount of cash, raising £188,900 in donations since July. 

Ex-Home Secretary Priti Patel, previously seen as a popular hard-liner in the party, came last and was booted from the contest this week. 

The now former leadership contender was neck-and-neck in the fundraising tally, raising £185,700 since July.  

James Cleverly, who chased Badenoch by coming a close third in the race on Wednesday by one vote, is fourth in donations for the contest so far, bringing in £91,000 since the General Election.  

Liberals Tom Tugendhat and Mel Stride come next, raising just £68,500 and £30,000 respectively. Mel Stride was expected to be kicked from the contest on Wednesday but pipped Priti Patel amid claims of tactical voting by those keen to get rid of right-wing competition to Jenrick and Badenoch.

Among the top donors, Patel brought in £70,000 from Lubov Chernukhin, the Russian-born British businesswoman. Robert Jenrick received £20,000 from Zahawi & Zahawi Limited, the firm of disgraced former Conservative Chancellor Nadhim Zahawi. 

Conservative peer Michael Hintze donated to both Tom Tugendhat and James Cleverly. Tugendhat has been seen as a liberal but has made right-wing noises about leaving the European Convention on Human Rights during this election race. 

Cleverly has also been seen as a more moderate (and ‘normal’) force, but has tied himself to the former PM Rishi Sunak’s Rwanda deportation scheme. 

The leadership race formally commenced on 24th July and will last for over three months, with Sunak’s successor being confirmed on 2nd November. 

Around 100,000 Conservative Party members (membership numbers have not been published) will by then have voted on a ‘final two’ candidates put forward by the Conservative Party’s remaining 121 MPs. 

The full donor list since July is at the bottom of this piece, while the top three donors for each are below.

Robert Jenrick: £203,100

Top three donors:

• The Spott Fitness Ltd: £75,000 (three donations of £25,000 each)
• Quantum Pacific Corporation UK Limited: £35,000
• Joseph Jack Davidson and Zahawi & Zahawi Limited: £20,000 each 

The Spott Fitness Ltd runs a “revolutionary live video, scheduling platform, and app designed for one to one and group fitness coaches.”  It is run by lawyer Mark Dembovsky and Benjamin Hodson, a fitness entrepreneur. 

Quantum Pacific Corporation UK Limited is part of a global group of companies with interests in energy, mining, and other sectors.

And Zahawi & Zahawi Limited is the firm of disgraced former Conservative Chancellor Nadhim Zahawi. 

Kemi Badenoch: £188,900

Top three donors:

• Charles Keymer: £50,000 (two donations of £40,000 + £10,000)
• Douglas Shaw: £20,000
• David Watson Gandy, Neil Record, Dambisa Moyo, Andrew Scott, Growth Financial Services: £10,000 each 

Charles Keymer is British businessman and investor, known for supporting conservative causes. Douglas Shaw is a financial services professional and investor. 

Neil Record is Chairman of Record Currency Management, a currency investment management firm. Dambisa Moyo is a Zambian-born global economist and author, who sits on several corporate boards. 

Andrew Scott may refer to the professor of economics at London Business School, but we are confirming if this is the case. Growth Financial Services is a financial services company based in London.

Priti Patel: £185,700

Top three donors:

• Lubov Chernukhin: £70,000
• Donlow Fininvest: £25,000
• Sunbeam Consulting Ltd: £20,700 (£10,000 cash + £10,700 in-kind)

Lubov Chernukhin is a Russian-born British businesswoman and major Conservative Party donor. Donlow Fininvest is a private investment company. 

Sunbeam Consulting Ltd appears to be a Kent-based consulting firm run by Kiran Jassal.  Jassal “primarily represents landlord clients advising on a wide range of non-contentious property issues and asset management work in the retail, office and industrial sectors” according to a profile. 

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James Cleverly: £91,000

Top three donors:

• Simon Chappell: £20,000
• Kamal Pankhania: £15,000
• Lord Michael Hintze, Professor Christopher Wood, Valary DTL Limited: £10,000 each

Simon Chappell is a British businessman and entrepreneur. Kamal Pankhania is a British property developer and businessman. And Lord Michael Hintze is a British-Australian businessman, hedge fund manager, and a major Conservative Party donor. 

Professor Christopher Wood is “a Welsh-born composer of sacred choral music, best known for his setting of the Requiem Mass, The Wood Requiem, dedicated to the memory of Her Majesty Queen Elizabeth the Queen Mother, together with his Missa Brevis.” 

Tom Tugendhat: £68,500

Top three donors:

• Blue WV Ltd: £44,500 (£41,000 + £3,500)
• Lord Michael Hintze: £10,000
• IPGL Ltd: £5,000

IPGL Ltd is an investment company founded by Michael Spencer, a British businessman and major Conservative Party donor.

Tugendhat also received donations from his father, retired High Court judge Sir Michael Tugendhat, and Lord Christopher Tugendhat (Baron Tugendhat), his uncle. 

Lord Hintze also donated to James Cleverly (as above)… 

Mel Stride: £30,000

Top three donors:

• Andrew Wilkinson: £25,000
• Gareth Penny: £3,000
• Peter Batey: £2,000

Andrew Wilkinson is likely to refer to the former PeopleScout talent firm executive, though details in the register are annoyingly scant. 

Gareth Penny is a British businessman, and was the CEO of De Beers diamond company for 22 years. He is chairman of Norilsk Nickel (or Nornickel), “Russia’s largest diversified mining and metals company listed on the Moscow Exchange”, as noted in this profile. 

Penny was “previously chairman of the Edcon Group, a private fashion retailer in southern Africa, and served as a non-executive director and Remuneration Committee chairman of the Julius Bär Group.”  

See the full figures in the latest Register of Interests here.

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Full Donor Lists

Totals above are rounded to the nearest £100. Some of these donations were made to the MP’s local party, but the vast majority are directly to the MP or their campaign. Donations from the same donor are listed mutliple times to show the donation dates. All donations listed are since Rishi Sunak announced he was standing down as Conservative Party leader on the 5th July, firing the starting gun on the leadership race. 

Spot something interesting? Get in touch: josiah@bylinetimes.com

Robert Jenrick Donations List:

1. The Spott Fitness Ltd – £25,000 (Registered 11 July 2024)
2. The Spott Fitness Ltd – £25,000 (Registered 25 July 2024)
3. The Spott Fitness Ltd – £25,000 (Registered 12 August 2024)
4. Mary Lonsdale – £25,000 (Registered 22 August 2024)
5. Zahawi & Zahawi Limited – £20,000 (Registered 27 August 2024)
6. Joseph Jack Davidson – £20,000 (Registered 29 July 2024)
7. John James – £15,000 (Registered 5 August 2024)
8. David Naylor-Leyland – £10,000 (Registered 14 August 2024)
9. Northcote Street Limited – £10,000 (Registered 21 August 2024)
10. Mr Paul Haggar – £10,000 (Registered 29 July 2024)
11. Richard Girling – £5,000 (Registered 22 August 2024)
12. Andrew Brannon – £5,000 (Registered 8 August 2024)
13. The RH Group Limited – £3,091.20 (Registered 31 July 2024)
14. International Export Packers Limited – £2,500 (Registered 11 July 2024)
15. Simon Atrill – £2,500 (Registered 29 July 2024)

Kemi Badenoch Donations List:

1. Charles Keymer – £40,000 (Registered 17 August 2024)
2. Douglas Shaw – £20,000 (Registered 28 August 2024)
3. Graham Edwards – £12,000 (Registered 29 July 2024)
4. Charles Keymer – £10,000 (Registered 29 July 2024)
5. Neil Record – £10,000 (Registered 31 July 2024)
6. David Eventhall – £10,000 (Registered 8 August 2024)
7. David Watson Gandy – £10,000 (Registered 13 August 2024)
8. Dominic Brisby – £10,000 (Registered 17 August 2024)
9. James Mellon – £10,000 (Registered 17 August 2024)
10. Mr James D Emslie – £10,000 (Registered 24 August 2024)
11. Dambisa Moyo – £10,000 (Registered 28 August 2024)
12. Andrew Scott – £10,000 (Registered 28 August 2024)
13. Growth Financial Services – £10,000 (Registered 28 August 2024)
14. Dean Richmond – £5,000 (Registered 8 August 2024)
15. Caroline O’Kane – £5,000 (Registered 13 August 2024)
16. Martin Bellamy – £5,000 (Registered 24 August 2024)
17. Alison Rankin Frost – £5,000 (Registered 28 August 2024)
18. Robert West – £1,855 (Registered 29 July 2024)

Priti Patel Donations List:

1. Lubov Chernukhin – £70,000 (Registered 25 August 2024)
2. Donlow Fininvest – £25,000 (Registered 25 August 2024)
3. Sunbeam Consulting Ltd – £10,700 (Registered 25 August 2024)
4. Mr Paul Hunt – £10,000 (Registered 11 July 2024)
5. Sunbeam Consulting Ltd – £10,000 (Registered 25 August 2024)
6. R&R Asset Management Ltd – £10,000 (Registered 25 August 2024)
7. Lord Michael Hintze – £10,000 (Registered 25 August 2024)
8. John James – £10,000 (Registered 25 August 2024)
9. Bromsgrove Ltd – £10,000 (Registered 25 August 2024)
10. Ashok Verma – £10,000 (Registered 25 August 2024)
11. Davinder Bains – £5,000 (Registered 25 August 2024)
12. Stephen Harman – £5,000 (Registered 25 August 2024)

James Cleverly Donations List:

1. Mr Simon Chappell – £20,000 (Registered 22 August 2024)
2. Kamal Pankhania – £15,000 (Registered 22 August 2024)
3. F T Estates – £11,000 (Registered 27 August 2024)
4. Professor Christopher Wood – £10,000 (Registered 22 August 2024)
5. Lord Michael Hintze – £10,000 (Registered 22 August 2024)
6. Valary DTL Limited – £10,000 (Registered 22 August 2024)
7. Valary DTL Ltd [same firm as above] – £10,000 (Registered 28 August 2024)
8. Robert Kilgour – £5,000 (Registered 22 August 2024)

Tom Tugendhat Donations List:

1. Blue WV Ltd – £41,000 (Registered 2 September 2024)
2. Lord Michael Hintze – £10,000 (Registered 2 September 2024)
3. IPGL Ltd – £5,000 (Registered 1 August 2024)
4. Blue WV Ltd – £3,500 (Registered 1 August 2024)
5. Sir Michael Tugendhat – £3,000 (Registered 2 September 2024)
6. Robert Coke – £2,000 (Registered 2 September 2024)
7. Lord Christopher Tugendhat – £2,000 (Registered 2 September 2024)
8. Sedat Zorba – £1,000 (Registered 28 August 2024)
9. Sedat Zorba – £1,000 (Registered 28 August 2024, for the local party)

Mel Stride Donations List:

1. Andrew Wilkinson – £25,000 (Registered 14 August 2024)
2. Gareth Penny – £3,000 (Registered 23 August 2024)
3. Peter Batey – £2,000 (Registered 8 August 2024)

Tory Leadership Election Timetable

2nd November: Announcement of the ballot results. The winner becomes the new leader of the Conservative Party

24-29th July: Nomination period. Candidates must secure support from 10 Conservative MPs (5% of the party) to qualify for the first ballot

4th & 10th September: Conservative MPs vote in two rounds to narrow the field to four candidates

29th September – 2nd October: Conservative Party Conference. The four remaining candidates each deliver a speech

2nd-10th October: Conservative MPs vote in two more rounds to reduce the field to two finalists

10th-31st October: Online voting period for all Conservative Party members to choose between the final two candidates

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