From Caravan Parks to a Billionaire’s Empire: The Rise of the UK’s 'Asylum King'

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From Caravan Parks to a Billionaire’s Empire: The Rise of the UK’s 'Asylum King'

 

Graham King, an Essex-born businessman once known for selling mobile homes, has become one of the UK’s newest billionaires as demand for asylum accommodation surges. The 58-year-old founder of Clearsprings Ready Homes, a company contracted by the British government to house, feed, and transport asylum seekers, has seen his wealth jump by 35 per cent in just a year. King now ranks 154th on the 2025 Sunday Times Rich List with a fortune estimated at £1.015 billion—up from £750 million when he first appeared on the list last year.

 

 

The growth in King’s wealth mirrors the dramatic rise in immigration and asylum claims in the UK. Over 108,000 people applied for asylum in 2024, a record number, up from nearly 92,000 the previous year. The backlog in processing these claims has left around 38,000 asylum seekers in 222 hotels, while an additional 66,000 are being accommodated elsewhere. According to the National Audit Office, the overall cost of providing asylum housing has risen sharply, with the value of ten-year contracts ballooning from £4.5 billion to £15.3 billion.

 

Clearsprings, founded in 1999 and operating out of a modest office in Rayleigh, Essex, has become a central player in this evolving industry. The company’s latest contract with the Home Office—providing services in southern England and Wales—is now estimated to be worth £7.3 billion, a significant leap from its initial valuation of £1 billion. In the year ending January 2024, Clearsprings reported a 60 per cent rise in profits, hitting £119.4 million.

 

King owns more than 99 per cent of Clearsprings, a stake that now places him among Britain’s wealthiest individuals. His journey began in Canvey Island, where he grew up helping run the family’s caravan park, Kings Park, which his father Jack purchased in the 1960s and eventually sold for £32 million in 2007. The family dabbled in multiple businesses including a taxi firm, car dealership, and even nightclubs that once featured artists like Shirley Bassey and Tommy Cooper.

 

The pivot to asylum housing came in the late 1990s when a hotelier’s success with government asylum contracts caught King’s attention. John Pring, a local estate agent, was asked to draft a business proposal for what became Clearsprings. “Jack came to me and said, ‘The government is asking people to tender for this type of work. Graham thinks there’s an opportunity’,” Pring recalled. “The idea was to buy property, rent it to the government and manage it for them.”

 

Despite his fortune, King’s company has faced serious criticism. In 2021, two Clearsprings-run sites—Napier Barracks in Kent and Penally Camp in Pembrokeshire—were described by inspectors as “filthy,” “decrepit,” and “run down.” In 2023, more than 70 people, including children, slept on the street to protest overcrowded conditions in Clearsprings-managed hotels in London. The Home Office recently severed ties between Clearsprings and a subcontractor, Stay Belvedere Hotels Ltd, over “poor performance and behaviour.”

 

 

Financial scrutiny has also intensified. A Home Office audit revealed that the department could not fully justify £58 million in charges from Clearsprings, which exceeded original agreements. Inspectors recommended stronger invoicing controls to prevent overpayments.

 

King, now reportedly residing in Mayfair and Monaco, enjoys a luxurious lifestyle. He participates in Porsche Sprint Challenge races across Europe and was recently profiled enjoying his time with his Latvian girlfriend, Lolita Lace. Previously married to Austrian-born Carin, with whom he has two children, King left the family’s 60-acre farmhouse in Chappel years ago. His brother Jeff lives in Monaco, while sister Linda remains in Canvey Island.

 

King isn’t alone in capitalizing on asylum housing. Alex Langsam, 86, the owner of Britannia Hotels and Pontins, also appears on the Rich List with a net worth of £401 million. Many of Langsam’s hotels are currently used to house asylum seekers.

Clearsprings declined to comment on the latest developments.

 

  Adapted by ASEAN Now from The Times  2025-05-15