Three Tory donors who are expected to be rewarded with peerages by Boris Johnson together gave almost £1.5million to the party in the final three months of last year.
Peter Cruddas, Michael Spencer and Jon Moynihan are thought to have been nominated by the Prime Minister for places on the red benches, which will be announced next month.
Mr Spencer, a billionaire financier who has also served as Tory treasurer, handed £1,057,250 to the party in the fourth quarter of 2019. Mr Cruddas donated £283,900, while Mr Moynihan’s contribution was £116,631.
Billionaire financier Michael Spencer was rejected for a peerage in 2016 after being nominated by Mr Cameron. He handed £1,057,250 to the party in the fourth quarter of 2019. He is pictured above with singer Cheryl
It came as the Tories received more than £37million in the three months – £14million more than Labour and the Liberal Democrats combined.
In total, a record £69million was donated to British political parties in a period dominated by the General Election, according to the Electoral Commission.
Some £8.7million of the £9.8million received by Labour was given by trade unions.
Peter Cruddas, who donated £50,000 to Mr Johnson’s campaign for the Tory leadership, is one of 28 people that the PM has recommended as Tory peers
The party’s biggest contributor was Unite – run by Len McCluskey – which made donations totalling £4.9million.
The Lib Dems amassed a war chest of £13.4million, which included £8million from Lord (David) Sainsbury, believed to the biggest ever single donation to a political party.
Despite the big cheque, the party lost seats including that of its leader Jo Swinson.
The former chairman of Sainsbury’s supermarkets, who served as a science minister under Tony Blair, was one of the biggest losers of the 2016 EU referendum campaign after spending nearly £8million trying to avert Brexit.