'Magnificent Seven' fuel a record number of ISA millionaires

The number of ISA millionaires has hit a record high of 5,070, as a new wave of armchair investors cashes in on the US tech stock boom.

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In reality, the total is likely to be even higher. The figure, obtained via a Freedom of Information request by smart-money app Plum, covers only the 2022/23 tax year ~ and the stock market bull run has continued since then.

Their numbers may have taken a knock in recent weeks, though, as global stock markets plunge over fears that the artificial intelligence boom has tipped into bubble territory, with tech giants ploughing billions into AI.