Dubai has the most millionaires in the Middle East, with 72,500 residents who are millionaires, according to a recent report. It’s also ranked as the 21st richest city worldwide.
Over the past 10 years, the number of millionaires in Dubai has grown by 78%, as per data from Henley & Partners and New World Wealth.
The report also found that Dubai is home to 212 centi-millionaires (people with over $100 million in assets) and 15 billionaires. Abu Dhabi is identified as another wealthy city, with 22,700 millionaires, a growth rate of 75% in the past decade, and 68 centi-millionaires, and 5 billionaires.
Sharjah saw a 95% growth in millionaires over the last ten years, now having 4,100 millionaires and 11 centi-millionaires. Riyadh’s millionaire population grew by 40%, with 18,200 millionaires, 67 centi-millionaires, and 8 billionaires. Jeddah has 7,500 millionaires, 32 centi-millionaires, and 8 billionaires.
Tel Aviv is the only other Middle Eastern city among the top 50 wealthiest cities globally, with 24,300 millionaires.
