Dubai Home to 210 Centi-Millionaires and 15 Billionaires – Expect More Ultra-Rich Residents To Come In Next Decade

Dubai is home to 15 billionaires and more than 200 centi-millionaires and is expected to be one of the fastest-growing cities for the ultra-rich in the next 10 years, according to a report by Henley & Partners.

The residency and investment specialist places Dubai 16th in its annual global ranking of cities with the most ultra-rich residents. It classifies centi-millionaires as people with assets worth $100 million or more.

Dubai leads the region with 210 centi-millionaires, ahead of Riyadh, which has 65. Meanwhile, according to Henley & Partners, Dubai has 15 resident billionaires and Riyadh has nine.

The Middle East cities lag a long way behind ultra-wealthy hubs in the US.

New York leads the way, with 775 centi-millionaires, and is followed by The Bay Area, with 692, and Los Angeles, with 504.

In terms of growth forecast over the next ten years, however, Dubai and Riyadh are among the cities with the highest number of new centi-millionaires expected by 2033.

Riyadh will see an 85 percent increase in ultra-wealthy residents, and Dubai is expected to see a 78 percent growth in centi-millionaires by 2033.

There are currently 28,420 centi-millionaires in the world, more than double the number 20 years ago and an increase of 12 percent compared to this time last year, according to the 2023 Centi-Millionaire Report released by Henley & Partners.


Arabian Business

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