It’s been a great week to be Gen Z. No, really.
On Wednesday, as part of her historic Budget, Rachel Reeves announced that the national living wage will rise to £11.44 in April next year – and that the rate, which is currently only for workers over 23, will apply to 21 and 22-year-olds for the first time. The national minimum wage for 18 to 20-year-olds will also increase by £1.11 to £8.60 per hour.
But don’t get too excited. It’s not like you’re any closer to getting on Heat’s wealthiest 30-under-30 list, which, in an astonishing moment of synchronicity, was published a day before the Budget.
Of course, the majority of people on there are A-list celebrities: Dua Lipa, 29; Tom Holland, 28; and Lewis Capaldi, 28, are all present, and Harry Styles, 30, who topped the list with a net worth of £200 million. Their wealth can be attributed to their high-profile careers in film, music and TV, which makes them rather ludicrous comparison points.
But there are others on there who’ve made their millions more organically, through start-ups and businesses launched after appearing on reality TV. Like Kem Cetinay, 28, who has been successful since winning Love Island in 2017, launching his own grooming range as well as fronting campaigns for Primark; his net worth is estimated at £2.5m.
Then there’s fellow former Love Islander, Olivia Bowen, 30, who has found enormous success on social media (three million followers and counting) and has a net worth of £5.1m.
Still, nobody on that list is really an accurate reflection of what it’s like to be a young person in the UK and Ireland. The coincidence of the list being published so close to the Budget is jarring, to say the least, and serves as a stark reminder of how difficult things have become for young people.
Even the increased national living wage is not going to be enough to pay rent in most major cities, let alone have anything remotely indulgent, like a daily flat white or, I don’t know, new clothes.
In light of this, the publication of Heat’s list seems strange. Who is it for? It’s not for the people on the list – I can guarantee they couldn’t care less. They’re far too busy enjoying their multi-millionaire lifestyles, and I don’t blame them. It’s not for under-30s, either, because all it does is foster a culture of envy and resentment: why them and not me? I can’t imagine anyone looking at that list in our current economic climate and thinking, ‘oh great, my life is so much better for this arbitrary information about celebrity bank accounts’.
When you break it down, it’s hard to see the point in any of it. All it does is feed a narrative that puts pressure on young people to become absurdly successful by the time they’re 30, because apparently once they’re past that birthday none of this is that exciting any more. Youth is – and always will be – the fetish here. By achieving a certain salary by a young age, you’re rewarded with an unmatched level of societal approval. Like you’ve been adorned with a sign that reads: “good enough”.
This is despite most under-30s I know either burning themselves out with work in order to make ends meet, or living at home to avoid rising rental costs. All this feels more damning as we venture into winter, when the cost of living crisis will inevitably deepen as we spend more money on heating our homes, and subsequently agonising over the rising bills. Do we need to be reminded that famous people are doing just fine? Didn’t we know that already?
It feels tawdry, too, to rank people by wealth. After all, money might be able to buy you products, houses and handbags. But it can’t buy anything that really matters: love, friendship, family. Those are the things that are the most valuable, and therefore most worthy of celebration, in list form or otherwise. My advice is to remember that, and not to waste any of your precious youth reading Heat’s rich list.
