Dubai Has The Highest Number of Billionaires in Middle East

Dubai has emerged as the city with the highest number of billionaires in the Middle East, according to a recent study by Wealth-X called the Billionaire Census 2023. While Saudi Arabia leads among countries in the region, Dubai stands out as the preferred destination for the super-rich.

The study highlights Dubai’s strong appeal to billionaires, who choose the city as their residence or business hub. Overall, the city has 38 billionaires who contribute significantly to the collective wealth of the Middle East.

Despite a decline in the number of billionaires in the Middle East, the shared wealth among them has increased. This indicates the region’s ability to generate substantial wealth, even in challenging times.

Dubai’s emergence as a billionaire hub can be attributed to its favorable business environment, strategic location, and vibrant economy.

The city’s attractive investment opportunities, excellent infrastructure, and robust financial sector make it an attractive destination for the ultra-rich class.

Here are the top eleven cities with the highest number of billionaires in the world:

City Country Number of Billionaires
New York United States 136
Hong Kong Hong Kong 112
San Francisco United States 84
Moscow Russia 76
London United Kingdom (UK) 75
Beijing China 61
Los Angeles United States 58
Singapore Singapore 54
Shenzhen China 42
Mumbai India 39
Dubai United Arab Emirates (UAE) 38

While Dubai shines in the Middle East, the United States (US) remains the global leader in terms of the highest number of billionaires, followed by China, Germany, and the United Kingdom. India also ranks among the top countries with a significant billionaire presence.


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