Asylum Housing Tycoon Faces Scrutiny Over Billionaire Status

Graham King, founder of Clearsprings Ready Homes, has become a billionaire after a 35% surge in wealth to £1.015 billion, driven by lucrative government contracts for accommodating asylum seekers. Clearsprings' profits rose by 60% last year as the number of asylum seekers reached a record 108,138, and government spending on such contracts is projected to rise from £4.5 billion in 2019 to £15.3 billion by 2029. King is now ranked 154th on the Sunday Times Rich List. The rapid increase in his fortune has sparked public debate about profiteering and the ethics of substantial private gains from taxpayer-funded services amid a migration crisis. Critics have questioned the role of private companies in the asylum system. The UK government plans to unveil an Immigration White Paper aiming to cut net migration and address human trafficking, though it will not set strict migration targets.