A former caravan park and disco tycoon dubbed the ‘king’ of Britain’s migrant hotels is on track to become the first immigration industry billionaire as he rakes in a reported £4.8million per day.
Graham King was catapulted onto the Rich List this year after cashing in on accommodating and transporting arrivals due to the UK’s migrant crisis.
He now has an estimated net worth of £750 million and is on track to become a billionaire soon thanks to a contract with the Home Office that will last until September 2029..
Clearsprings Ready Homes, which houses migrants in hotels, unused military barracks and flats, was paid £1.74 billion last year by the government, an increase of £400 million in just 12 months.
According to The Times, a company report shows it made a profit of £91.2 million last year and paid £90 million in dividends to a company controlled by King, “mainly to the provision of accommodation, support and transport to asylum-seekers”.
Contracts to house asylum seekers have become far more expensive due to a shortage of accommodation.
Taxpayers are paying between £127 and £148 a day to house them, which is a total of £8 million per day.
But the government has said it will cut back on spending on ‘asylum hotels’ which may impact King’s business.
Not that he’ll be too upset with his lot.
King’s wealth has already put his son and daughter through a £44,000-a-year boarding school and funded the family’s globe-trotting holidays and Alpine ski trips.
All thanks to humanitarian crises and a broken asylum system.
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