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The number of Gen Z and Millennial millionaires in the U.K. has doubled in one year.

Mar 02 2022

The number of Gen Z and Millennial millionaires in the U.K. has doubled in one year. Though the pandemic caused many young Britons to experience career and financial instability, Gen Z and Millennials in the U.K. have upped their income in the past year, according to research from Bowmore Wealth Group. The U.K. currently has 2,000 young millionaires (up from 1,000 one year ago), and the number of young Brits declaring income over £150,000 has risen by 28%. Bowmore’s research indicates this increase is in part due to a boom in the tech and fintech sectors, as well as entrepreneurship. YPulse’s WE What’s Next for Work trend research explores how the pandemic has provoked young workers to reexamine not only their jobs but their entire relationship with work, causing many to leave their jobs in pursuit of higher-paying opportunities—and self-employment. Meanwhile, investing in cryptocurrency and NFTs has boomed among these gens, giving many 13-39-year-olds another stream of income—and the drive to become a millionaire. (Money Marketing)