Dubai climbs wealth rankings with surge in millionaires
Dubai is growing wealthier than ever as the number of millionaires in the Gulf emirate jumped more than 12% last year to 81,000.
That placed the city in 18th place on the annual ranking of the world’s richest cities published by Henley & Partners, up from 21st place last year.
Dubai’s population of centimillionaires – those with $100 million or more – rose to 237 from 212, while the city added five more billionaires from the 15 living there in 2024.
Leading this year’s list was New York, with 349,500 millionaires; the San Francisco Bay area, with 305,700; and Tokyo, with 298,300.
Gulf financial centers attracting rising class of ‘centi-millionaires’
Dubai, Abu Dhabi and Riyadh are among the cities that will likely experience explosive growth over the next two decades because of a proliferation of “centi-millionaires.”
A report by Henley & Partners predicts a 150% increase in the three Gulf financial centers of residents with liquid investable assets of $100 million or more.
There are currently 29,350 centi-millionaires around the world, a figure that has grown by 54% over the last 10 years.
New York’s 744 centi-millionaires represent the world’s largest collection of the super rich, followed by the San Francisco Bay Area with 675 and Los Angeles with 498, according to the report. London ranks fourth with 370 centi-millionaires.
