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Asylum Billionaire: £187M Profit from Controversial Housing Deal

10/7/2025

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Summary

Story summary

Graham King, owner of Clearsprings Ready Homes, earned £187 million from a £7 billion government contract to house asylum seekers, becoming Britain's first asylum billionaire.
Clearsprings houses around 30,000 asylum seekers, with complaints of poor conditions.
Operating profit nearly £117 million; £90 million in dividends.
Asylum contracts rose from £4.5 billion to £15.3 billion, about £4.2 million daily.

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Story summary

Graham King, owner of Clearsprings Ready Homes, earned £187 million from a £7 billion government contract to house asylum seekers, becoming Britain's first asylum billionaire.
Clearsprings houses around 30,000 asylum seekers, with complaints of poor conditions.
Operating profit nearly £117 million; £90 million in dividends.
Asylum contracts rose from £4.5 billion to £15.3 billion, about £4.2 million daily.