Isa millionaires slump as stock market volatility persists

Isa millionaires – those with at least a million pounds invested in their ISA wrappers – has dipped after volatility hit global stock markets.

There are 520 fewer “Isa millionaires”, HM Revenue and Customs (HMRC) revealed following a Freedom of Information (FOI) request by InvestingReviews.co.uk.

Millionaire numbers have fallen by just over a quarter to 1,480, down from 2,000 the previous year.

The figures were compared with the number of Isa millionaires a year earlier, in 2019.

InvestingReviews.co.uk CEO Simon Jones said: “We expect Isa millionaire numbers to rebound in the short to medium term as equity markets recover from a period of uncertainty.

“For investors with a long-term horizon, a stocks and shares Isa remains an excellent route to millionaires’ row.”