Free Republic

The 'king' of Britain's migrant hotels has officially become a billionaire after amassing his fortune by housing asylum seekers for the Government. Essex tycoon Graham King, 57, is now estimated to be worth a staggering £1.015billion after a 35 per cent jump in his fortune made him Britain's first asylum hotel billionaire. His company, Clearsprings Ready Homes, is paid by the Home Office to provide short-term accommodation for asylum seekers and has a £1.7billion turnover, which means that Mr King and his firm rake in £4.8 million ($6m) of taxpayers' cash a day.

The 'king' of Britain's migrant hotels is raking in £4.8million per day and may become a billionaire from the money earned through housing immigrants in the UK. Graham King, a former caravan park and disco tycoon, was catapulted onto the Rich List this year after cashing in on accommodating and transporting arrivals due to the UK's migrant crisis. The 57-year-old - who has an estimated net worth of £750million - owns an Essex business which was paid £1.74billion last year and claimed this was due to the increase in refugees.