More individuals under the age of 30 in the UK are earning over £1 million annually than ever before, with young footballers and pop singers among the wealthiest.
The increasing salaries of musicians such as Dua Lipa and Niall Horan, as well as sports personalities like Harry Kane, contribute to the rise in the number of young millionaires.
According to research conducted by accountancy firm Lubbock Fine, the number of 30-year-olds in the UK earning over £1 million per year reached a five-year peak of 830 in 2022/23, up from 770 in 2021/22.
Pop sensation Dua Lipa, 28, boasts an estimated fortune of £75 million according to The Sunday Times young rich list. Since launching her music career in 2017, the London-born singer has amassed wealth through her music releases, modeling endeavors, and podcasting ventures.
In less than a decade, Dua Lipa has accumulated her extraordinary wealth, starting with her debut single “Be the One” in 2015 and her self-titled album two years later. She recently made strategic moves such as acquiring the rights to her publishing catalogue, collaborating with her father Dukagjin, known as Dugi, to establish a company named Radical 22 Publishing Limited to manage her commercial assets.
Furthermore, Dua Lipa has earned мillions through her successful Future Nostalgia tour, lucrative brand partnerships with Evian, Yves Saint Laurent, and Puma, among others.
Another young individual who has made a fortune in the music industry is Niall Horan, 30, who rose to fамe with One Direction in 2010. With an estimated worth of £54 million, Horan has expanded his career by serving as a coach on The Voice in America, where he reportedly earned at least £6 million.
Millie Bobby Brown, the highest-paid young British star in showbusiness, has accumulated a net worth of £20 million following her role in the Netflix drамa Stranger Things and the Enola Holmes films. Brown’s acting career began in 2013, and she gained widespread recognition in 2016 with the success of Stranger Things. Additionally, Brown has secured lucrative partnerships with Citigroup, Converse, Vogue Eyewear, and Louis Vuitton.
In the sports realm, the average salary of a Premier League footballer has surged to £3.6 million annually. Notable players like Manchester City’s Erling Haaland, 23, who earns £375,000 per week, and Chelsea’s Raheem Sterling, 29, worth £61 million, have contributed to this trend. Sterling, who transferred from Manchester City to Chelsea for £47.5 million in July 2022, is under contract until 2027, earning £300,000 per week.
Finally, Johnny Boufarhat, 29, secured a spot on The Sunday Times Rich List as Britain’s youngest self-made billionaire after launching an online events firm at the beginning of the lockdown.
