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Dubai's 120 richest families and individuals are worth $1 trillion

19:17, April 30

Dubai is home to more than 120 of the world's wealthiest families and individuals, with a combined wealth of more than $1 trillion, as the UAE has attracted thousands of millionaires from around the world over the past decade, especially since the pandemic.

According to the Dubai International Financial Centre, this has allowed the emirate to rank first in the Middle East, Africa and South Asia (MEASA) and to rank among the 22 largest cities in the world based on the richest population.

According to New World Wealth, more than 3,500 millionaires from Africa and 1,500 high-net-worth individuals from the UK have moved to Dubai in the last decade alone, according to New World Wealth.

While Henley Private Wealth reported that 9,700 millionaires migrated to the UAE in 2022 and 2023 alone.

According to the World's Richest Cities 2023 report, Dubai was home to 68,500 millionaires with liquid assets of at least $1 million, 206 centi-millionaires with a net worth of at least $100 million, and 15 billionaires.

Thousands of millionaires from the Indian subcontinent, Russia, Europe and other countries in South and Southeast Asia have made the UAE their home. All these family businesses and individuals migrated to Dubai because of its safety and security, low taxes, zero personal income tax, world class healthcare facilities.

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