The number of UK millennial and Generation Z millionaires has hit a record high, doubling to 2,000 in the most recent year* from 1,000 the previous year, shows research by Bowmore Wealth Group.
Bowmore’s research also shows a 28% increase in millennial and Gen Z taxpayers declaring income over £150,000 to 50,000 individuals, compared to 39,000 the previous year.
The jump in high-earning millennials is largely due to a sharp increase in pay for workers in the tech/fintech sector (especially those with shares or options), as well as a boom in millennial entrepreneurship and high paid areas of financial services such as private equity.
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