Elon Musk could boost Reform UK in at least 98 seats at the next election if he made a $100 million (£78 million) donation, according to an expert.

Rumours are swirling that the tech billionaire could give the huge sum to Nigel Farage’s party.

Theo Bertram, director of the Social Market Foundation think tank, said the donation would not win the next election, due in 2029, for Reform.

But he said it would make a difference in the 98 seats where they came second in July’s general election.

Writing on X, Mr Bertram said: “Money can’t buy an immediate outright win for Reform but could change the outcome in 98 seats – more over time.

“For Reform to win the next election, more than money, they need complete and utter surrender of the Tories, which seems unlikely.”

But he said the donation “could change the overall outcome” of the election, adding: “Maybe hung Parliament, with Reform as a big but probably not biggest party.”

It comes as Mr Musk has been embroiled in an ongoing war of words with Prime Minister Sir Keir Starmer.

The Sunday Times reported that leading businessmen and Tory officials believe there is a credible prospect that the X owner is preparing to make the donation to Reform as a “f*** you Starmer payment” with a view to transforming British politics.

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The Tesla founder has been a major donor to US president-elect Donald Trump and has been handed a role in the newly created Department of Government Efficiency.

Reform leader Mr Farage who is a close ally of Mr Trump, insisted Mr Musk has not discussed the donation with him.

Speaking on GB News, Mr Farage said: “I have no idea about this at all.

“What I do know is that Elon Musk is very supportive of me, what I’m trying to do, and he thinks that if Reform do well in the UK, we can bring about the same kind of change that he intends to do with Donald Trump in America.

All of that is true, yes he is very supporting. But honestly this idea of huge sums of money, well let’s put it like this, it hasn’t been discussed with me.”