Stuart Wheeler

John Stuart Wheeler (30 January 193523 July 2020) was a British financier, gambler and political activist. He made his fortune as the founder of the spread betting firm IG Index in 1974, but was best known for his political activism, being a major donor to the Conservative Party and treasurer of the UK Independence Party from 2011 to 2014. He was educated at Eton College. He did his national service with the Welsh Guards, before studying at Christ Church, Oxford, from where he graduated with a second-class degree in law. The action sought to prevent the government from completing ratification of the treaty, on the grounds that it was illegal for a government to breach the public's legitimate expectation of adherence to manifesto and other commitments.

Wheeler was seen as belonging to the right wing of the Conservative Party. He supported Liam Fox in the 2005 leadership contest, and switched his support to David Davis against David Cameron in the final run-off. The following day he was expelled from the Conservative Party.

The Trust Party On 29 March 2010, Wheeler announced that he was forming a new political party to be called the Trust Party and that he would run for the Bexhill and Battle seat. The seat was won by Gregory Barker for the Conservatives, but Wheeler polled 4.9% and therefore lost his deposit. The new party also fielded a candidate in Perth and North Perthshire, where it won 1.1% of the vote.

UKIP treasurer In 2011, Wheeler was appointed treasurer of UKIP to spearhead fundraising in advance of the 2014 European elections. His appointment was seen as a blow for the Conservatives because of his network of contacts. Party leader Nigel Farage said the move would enable the party to "raise serious money" as a lack of funds was "holding them back".

Vote Leave co-treasurer At the launch of the Vote Leave campaign for Brexit in October 2015, Wheeler was reported to be one of the new group's three major donors, with Peter Cruddas and John Mills; the three men were appointed as joint co-treasurers.

Personal life Wheeler was called an "obsessive" gambler, taking a keen interest in card and risk games and having played bridge with Lord Lucan on 6 November 1974, two days before his disappearance, and with Omar Sharif, as well as being a regular competitor in World Series of Poker championships. He died a month later on 23 July 2020, aged 85, at his home Chilham Castle in Kent.

Footnotes