The rise of Zia Yusuf through the ranks of right-wing politics has seen a politically unknown but successful businessman rise to become the second most important member of Reform UK’s leadership team and to be hotly tipped as Farage’s chancellor should the party form a government. Here we take a look at what is known about Yusuf and what may be expected from him in the future.
Background
Born in 1986, in Lanarkshire, Scotland, Yusuf’s parents came to the UK from Sri Lanka, in the 1980s, with both going on to work in the NHS; his father a doctor and his mother a nurse. Yusuf attended the private Hampton School on a 50% scholarship, where he met his future business partner, Alex Macdonald. He then attended the London School of Economics from where he graduated with a BSc in International Relations.
Business career
On leaving university, Yusuf was employed first by Merrill Lynch and then by Goldman Sachs, where he rose to be Executive Director by his early thirties. Instead of pursuing a high-level and lucrative career at Sachs, Yusuf teamed up with Alex Macdonald and launched an app called Velocity Black. The app has been described as “a tool that matches premium retailers with consumer shoppers to drive meaningful engagements and considerable financial benefits for all.” After spending nine years developing the business, the partners sold the business to American credit card lender Capital One. The acquisition was formally announced by Capital One on 1 June 2023. It has been estimated that Yusuf made around £31 million from the sale.
Rapid assent to Party Chairman
In the weeks leading up to the 2024 General Election, there were media reports that Yusuf had made a donation to Reform UK in the hundreds of thousands. Indeed, Electoral Commission filings published on 10 September 2024 show that Yusuf donated £200,000 on 24 June 2024, just ten days before election day. A smaller £6,000 donation was made on 12 November 2024. No further donations have been registered since (as of 27/11/2025). Media reports suggest that just days before the first donation, Yusuf had been a paid-up member of the Tory Party.
In the shuffling that went on in the aftermath of the 2024 General Election, Yusuf was appointed by Farage to take over the chairmanship from Richard Tice, who became deputy leader in place of Ben Habib and Dr David Bull. Yusuf received criticism at this time for what some said was the buying of influence.
Reconstitutionalising the party
Following the election, Farage and Yusuf proceeded with moves to change the legal basis of the party away from its limited party status, with Farage and Tice as the two shareholders. As part of this, Yusuf was appointed director of Reform UK Party Limited, a not-for-profit company, on 18 February 2025. He would also be instrumental in devising a new constitution for the party that would be voted on at the party’s September 2025 convention.
Launching Doge
On June 2 2025, a Reform UK media release announced the formation of a Reform Doge team, taking its name from the U.S. version set up by Elon Musk. According to Reform statements, the team would comprise of a team of software engineers, data analysts and forensic auditors and would get to work at Reform’s eleven councils. The first head of DOGE was identified as tech entrepreneur Nathaniel Fried, brought on board by party chairman Zia Yusuf. Long-time Farage donor, Arron Banks, was also involved with the DOGE team. The team immediately ran into controversy by letting it be known that council officers would face disciplinary action if they obstructed the new team
The Resignation
On 4th June 2025, newly elected Reform MP, Sarah Pochin, asked a question in parliament on the banning of the burqa.
A row ensued. Yusuf called the question ‘dumb’ as it was not party policy. Lee Anderson posted in support of a ban, and amid the furore, Farage said that a ban ‘should be debated’. Yusuf announced his resignation with a post on X on 5 June 2025.
In reaction to the resignation, party donor Aaron Banks, posted, “The corks will be popping in party HQ this evening.” At the time of the resignation, Banks was spoken of as a potential successor as party chairman.
The Return
Within 48 hours, Yusuf’s labelling of his Reform involvement as a waste of time was a thing of the past. In a statement, he said, “Over the last 24 hours, I have received a huge number of lovely and heartfelt messages from people who have expressed their dismay at my resignation, urging me to reconsider.” He continued: “I know the mission is too important and I cannot let people down… “So, I will be continuing my work with Reform, my commitment redoubled.” Newly motivated, Yusuf took on the leadership of Doge from Fried, who had jumped ship as soon as Yusuf’s resignation had been made public and didn’t return. Reform UK leader, Nigel Farage, welcomed the news of Mr Yusuf’s return. He said: “I am delighted that Zia Yusuf will head up Reform UK’s DOGE department.”
Head of Policy
At the September 2005 Reform UK conference, Farage announced that Yusuf had been appointed head of policy in addition to his DOGE role. This situation changed again weeks later when it was announced that Richard Tice, deputy party leader, would take over the DOGE leadership role, with Yusuf focusing on the head of policy role.
Yusuf had become Farage’s most frequent partner in the many Reform UK media events. His prominence prompted one journalist at the presentation of Reform’s alternative budget to ask, “should we presume that [Yusuf] is your preferred choice for chancellor over Richard Tice now? Dodging the question, Farage responded, “I’m just not playing your silly little game. Sorry.”
The Future
Soon after his fleeting break from the party in June 2025, Yusuf signalled that he was keen on standing for parliament, prompting speculation that part of his agreement to return was the opportunity to be Reform’s next parliamentary candidate when a byelection opportunity arose. Only time will tell whether this was the case.
Farage’s career suggests he can have difficulty in sharing the limelight with other prominent people in the parties he has led. However, in recent months, the partnership seems to have been working well and without public policy disputes. Candidate selection for the next byelection will be closely watched.