Traditional high-paying sectors also contribute to the rise. Bigger contracts in sport, music and media, alongside strong salary growth in technology and financial services, are helping drive more young professionals into the £1m-plus bracket…reports Asian Lite News
They are often caricatured as work-shy, self-absorbed and overly sensitive. Yet when it comes to building wealth, Britain’s under-30s are quietly rewriting the narrative — and in record numbers.
Official figures from HM Revenue & Customs (HMRC), obtained by accountancy firm Lubbock Fine, show that 1,000 taxpayers under the age of 30 earned more than £1m last year — an 11% increase on the previous year and the highest figure on record. Collectively, these young high earners took home more than £3bn, averaging around £3m each.
The growth rate among under-30 millionaires far outpaces that of older age groups. Overall, there are now about 31,000 UK taxpayers earning £1m or more annually, a rise of just 1% year-on-year. By contrast, the number of seven-figure earners under 30 has climbed by 54% since the pandemic, when only 650 young taxpayers were recorded in this bracket.
Lubbock Fine suggests the surge reflects changing patterns in income generation, particularly the rise of social media influencing. Marketing spend on platforms such as Instagram, TikTok and YouTube has expanded rapidly in recent years, creating lucrative opportunities for digital creators.
The firm estimates that UK spending on influencer marketing has tripled since the pandemic to £917m and is forecast to exceed £1bn this year. For some young content creators, brand partnerships and sponsored posts generate incomes once associated only with elite athletes or entertainers.
Among the high-profile young earners likely captured in the data is Erling Haaland, the 25-year-old Manchester City striker, whose weekly salary is estimated at £525,000 — roughly £27.3m a year. Another example is Molly-Mae Hague, 26, a former Love Island contestant turned influencer, who is reported to command as much as £60,000 per sponsored post.
Digital-native stars such as Abby Roberts, a 24-year-old makeup influencer and music artist with 15 million TikTok followers, reportedly earn about £14,000 per post. While these figures represent the upper end of the market, they illustrate how online platforms have reshaped pathways to wealth for younger generations.
Traditional high-paying sectors also contribute to the rise. Bigger contracts in sport, music and media, alongside strong salary growth in technology and financial services, are helping drive more young professionals into the £1m-plus bracket.
However, high earnings at a young age do not guarantee lifelong wealth. Russell Rich, head of sports and entertainment at Lubbock Fine, cautioned that some young stars struggle to preserve their fortunes. Professional athletes in particular, he noted, can face financial pressures after retirement. “Footballers, boxers, and sports people generally tend to live beyond their means when they retire,” he told The Times, adding that people in the arts often lack strong saving and investment habits.
While younger influencers dominate headlines, older generations are also tapping into the creator economy. Research by media analysts Ampere shows that people aged 55 to 64 have delivered the fastest growth in YouTube traffic since 2020 — up 20% in the US and 14% in the UK. TikTok usage among Britons in that age group has also risen by 16% over the past year.
Notable older influencers include Caroline Idiens, a 53-year-old personal trainer with 2.4 million Instagram followers, and Valerie Mackay, 62, who documents life beyond midlife online. Yet their reach — and earnings — generally remain smaller than the biggest Gen Z stars.
For now, the data suggest that far from shying away from work, Britain’s under-30s are capitalising on new industries and evolving markets — and, in growing numbers, turning youth into serious wealth.
