UAE’s billionaires own Dh664 billion in wealth

UAE’s billionaires own Dh664 billion in wealth

A report says that 4,000 millionaires will migrate to the country in 2022

Published: Tue 5 Jul 2022, 1:50 PM

The UAE has been ranked 15th in the list of countries with the highest number of billionaires, while Dubai is rated 11th among top global cities, says a new report. The UAE’s ranking rises to the 12th position when the total wealth of the billionaires is considered.

The country is home to 45 billionaires with a total wealth of $181 billion (Dh664 billion), while Dubai houses 38 billionaires, according to Altrata’s Billionaire Census 2022 report.

One reason for this could be that the UAE has been attracting a large number of wealthy investors from around the world, thanks to its successful handling of the pandemic and business-friendly policies.

The latest Henley Global Citizens Report, released last month, projected that 4,000 millionaires will migrate to the UAE in 2022, surpassing bigger countries like Australia, Singapore, Israel, Switzerland, USA, Canada, New Zealand, UK, India and others.

The Altrata report said the US, China, Germany, India, UK, Hong Kong, Switzerland, Russia, Saudi Arabia, France, Italy, Canada, Brazil and Singapore house the highest number of billionaires globally.

Country Number of billionaires Total wealth ($billion) USA 975 4450 China 400 1451 Germany