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A BILLIONAIRE hotelier for migrants has been earning £3.8 million daily.
He anticipates only a minimal decline in the number of asylum seekers accommodated in his hotels in the future due to government policy.
Billionaire hotelier for migrants Graham King has been earning £3.8 million daily
King’s company, Clearspring Ready Homes, provides short-term accommodation for migrantsCredit: Unknown
Recent company accounts reveal that the tycoon has an annual turnover of £1.39 billion through his business, Clearspring Ready Homes, which offers short-term housing for migrants.
This comes as he faces significant pressure to demonstrate progress in addressing Channel crossings and ending the use of asylum hotels.
Last night, he stated: “Clearspring is profiting immensely from housing illegal immigrants because the government has lost control of our borders.
“It is outrageous that taxpayers are being exploited on such a large scale to accommodate illegal immigrants.
“The fact that we are forecasting to maintain this business at a large scale in the future indicates that they know Labour is too weak to take the necessary actions to stop the illegal boat crossings.”
Companies House documents for the year ending January 2025 indicate that despite the Government’s plans to reduce numbers, the firm expects a decrease of only five to ten percent.
The company’s strategic report also mentions: “Cash flow and liquidity risk health are further supported by the ongoing contract with the Home Office through to 2029.”
King, who grew up in Canvey Island, Essex, initially began housing migrants in an old cinema building where he once operated a disco.
Upon realizing it was a profitable venture, he reportedly began housing them in a dilapidated former barracks.
He is listed as the 154th richest person in Britain on the latest Sunday Times Rich List.
Clearspring, which accommodates 30,000 migrants, was contacted for a comment.
King with girlfriend Lolita LaceCredit: Tim Stewart
What is the main business of Graham King?
Graham King operates Clearspring Ready Homes, which provides short-term accommodation for migrants.
How much does Graham King's company earn daily?
His company earns approximately £3.8 million per day.
What challenges is King facing with the government?
He is under pressure to show results in addressing Channel crossings and reducing the use of asylum hotels.
