Graham King, founder of Clearsprings Ready Homes, has entered the Sunday Times Rich List as one of the UK’s wealthiest individuals. King’s company has secured a government contract worth £3.5 million per day to accommodate and transport asylum seekers, contributing significantly to his fortune of £750 million. His entry into the Rich List marks him as the 221st wealthiest person in the UK, joining high-profile figures such as King Charles III and Sir Paul McCartney.

Clearsprings, which manages sites like Napier Barracks in Kent, saw its profits more than double, reaching £62.5 million for the fiscal year ending January 2023. King’s wealth accumulation stems from his business ventures in holiday parks and the housing of asylum seekers. With a contract extending until 2029, he is anticipated to become the UK’s first immigration industry billionaire.

The Sunday Times Rich List also highlighted broader trends, including a decrease in the number of billionaires from 177 to 165 and a significant increase in wealth for top individuals like the Hinduja brothers. The list reflects ongoing discussions about wealth inequality in the UK.