Spear’s editor Josh Spero has been quoted in a Daily Mail story about why Britain’s millionaires are so young, based on research by WealthInsight
Spear's editor Josh Spero has been quoted in a Daily Mail story about why Britain's millionaires are so young, based on research by WealthInsight
Britain's millionaires are some of the youngest in the world with an average age of just 55, a survey of the super-rich has found.
The UK sits well below the likes of France, Germany and America and beats the global average age of 57.
It also has some of the youngest multimillionaires – those with $30 million (£19 million) or more – with an average age of 57 compared to the global average of 60 years of age.
Some of Britain's youngest millionaires include Adele with a fortune of £30million and 17-year-old Nick D'Aloisio who sold his app Summly for £15million.
Millionaires and multimillionaires tend to be younger in the UK than elsewhere in the Western world because of several factors, says Spear's magazine which carried out the research in association with leading wealth consultancy company WealthInsight.
Spear's editor Josh Spero said: 'First, we have a long history of entrepreneurialism, building companies which grow to span the world.
'Whether these have been industrial businesses in the Victorian era or financial services today, we have strong examples and a culture which supports it.'