UAE Wealthiest Country, Dubai Richest City in Middle East

UAE Wealthiest Country, Dubai Richest City in Middle East

The UAE has emerged as the wealthiest country in the Middle East, with Dubai the richest city, according to the latest data from New World Wealth.

The wealth sector compiler's newest report showed that the 82,763 high and ultra-high net worth individuals (UHNWIs) in the country own over Dh3 trillion wealth as of June 2020. The UAE is home to 12 billionaires; 214 millionaires with $100 million-plus; 3,410 millionaires with over $10 million of assets; and 79,100 millionaires with over $1 million. They have a combined wealth of $825 billion (Dh3 trillion).

Israel came in second in the region with $744 billion controlled by the rich, followed by Saudi Arabia ($482 billion), Turkey ($422 billion) and Iran ($266 billion).

Knight Frank's latest Wealth Report 2020 has estimated that the UAE is home to