The Tories received the largest donation in over 20 years

Photo: Paul Grover for The Telegraph

The Tories received their biggest donation in over 20 years from a businessman who said he believes that Rishi Sunak can boost the economy.

Egyptian-born billionaire Mohamed Mansour donated £5 million to the Conservative Party, equal to Sir Paul Getty's donation in 2001.

This reversed the fall in Tory giving since the departure of Boris Johnson and followed the defection to Labor by former Conservative donors such as Gareth Quarry, a millionaire recruiter who accused the Tories of being «torn apart by arrogance and complacency».

Figures released by the Electoral Commission last December showed that Tory donations between July and September overtook Labor for the first time in more than a year, at £3m against the opposition's £5.4m.< /p>

Letter to The Telegraph, below, Mr. Mansour said Mr. Sunak has shown himself to be «very capable», citing him as «someone who understands how growth works in today's economy.»

“He understands the importance of technology and innovation. He can make the modern economy work for all British citizens,” he said.

Largest Tory donation

Mr Mansour recalled how his “life changed overnight” when Hamel Abdel Nasser, former Egyptian president, took over his family's home. land, houses and assets because he did not believe that property rights should stand in the way of his socialist beliefs.

He was already attending university in the US, which meant that, without family support, he had to trade his car, work as a waiter, and «starve» as he struggled to pay for food and utilities.

“This experience left me with a lifelong belief in the importance of political stability, property rights and the rule of law,” he said.

That's why, he added, that's why he chose to come to the UK, as «a place where the rule of law is paramount, property rights are respected and there is an enviable political stability.»

His £5 million is the second largest personal donation after Lord Sainsbury of Turville made £8 million to the Liberal Democrats in 2019.

Mr. Mansour's donation contributed to the strongest first quarter of Tory giving in five years. This figure is to be confirmed by the Electoral Commission in early June.

Getting publicity

He has donated £600,000 to the Tories through his firm Unatrac since 2016, and last December the Prime Minister announced that he had become one of the party's senior fundraisers ahead of the next general election.

In February, Mr. Mansour agreed to a multi-million dollar tax settlement following an investigation into Unatrac by HM Revenue and Customs. This was part of a broader IRS scrutiny of so-called «Google tax diversion schemes» from several companies. No evidence of tax evasion or tax evasion was found.

Last year, he was given a role on a government investment advisory board as founder of his family-owned investment company, Man Capital, which he founded in London in 2010 after moving from Egypt.

Mr. Mansour is also Chairman of Mansour Group, a family-owned conglomerate with 60,000 employees.

Together with his two brothers, the company developed close ties as distributors for American companies including Caterpillar, Chevrolet and General Motors. His other interests include Metro, Egypt's largest supermarket chain, and McDonald's franchises in his homeland.

In addition to business, he served as transport minister from 2006 to 2009 under Hosni Mubarak, the late president of Egypt, who stepped down during the Arab Spring of 2011.

Mubarak, who died in 2020, was seen as a military autocrat who ruled Egypt for 30 years, maintaining his power by cracking down on political opposition, regularly running for re-election without opposition, and stifling free speech.

Photo: Paul Grover for The Telegraph Why I Donated £5 Million Tories and Believe in Rishi Sunak

Mohamed Mansour, founder and chairman of Man Capital LLP

When I was a teenager, my family's property was confiscated by the government. Egyptian President Hamel Abdel Nasser, under the influence of his Soviet mentors, nationalized the cotton industry, taking away the business from his father.

But he didn't stop there. Nasser was convinced that private property rights should not stand in the way of his socialist beliefs, and took land, houses and other property from my family.

My life changed overnight. I have already studied at a university in the USA. But from that moment on, my family could not support me. I had to sell my car, settle down and work as a waiter to pay for my college education. I learned what it means to starve and struggle to pay for food and utilities. Back in Egypt, my father struggled to support his family on a meager salary.

The experience made me believe for life in the importance of political stability, property rights, and the rule of law.

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My father wasn't the type to be knocked down. He started a cotton business in Sudan, but that too was nationalized.

But unafraid when Anwar Sadat came to power, he returned to Egypt and began work to rebuild the family business. I have been honored to continue this work with my brothers.

We diversified away from commodities and began working with companies such as General Motors and Caterpillar. Today, our family business employs 60,000 people worldwide.

With success comes responsibility

With that success came responsibility. I created a non-profit organization to provide financial support to businesswomen in Egypt and we have provided over four million loans. In 2005, I left business to work for the Egyptian government and spent almost four years trying to modernize the country's transport infrastructure.

But when I finished this period of service, I knew that there was one country where I would like to establish my business. A place where the rule of law reigns, property rights are respected and an enviable political stability is observed. This country: Great Britain.

I think that this country has a very capable prime minister. Someone who understands how growth works in today's economy. He understands the importance of technology and innovation. He can make the modern economy work for the benefit of all British citizens.

I have confidence in the Prime Minister, which is why I am proud to have been appointed Senior Treasurer of the Conservative Party last December. I want to give him the best possible chance for a full five year term and have therefore donated £5 million to the party's fund to fight the election. I look at what he accomplished in his first months in office and think what he could have accomplished in five years.

I love and respect this country that welcomed my family and me so warmly . It has a glorious history and noble traditions. I believe great days are ahead of him. I want to do everything in my power to help this country, the place where I watch my grandchildren grow up, realize its great potential.