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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.

Exclusive wealth network Tiger 21 opens doors to Dubai millionaires

Tiger 21, an international networking group for millionaires and billionaires, has set up shop in Dubai.

The organization, which has about 1,600 members around the world, provides a forum for members to share tips on wealth preservation, inheritance, investments, legacy building and philanthropy, The National reports.

Prospective members for Tiger 21 need to have at least $20 million in assets and must be referred by existing members before undergoing an extensive background check.

Membership costs about $33,000 a year, following a one-time initiation fee of $4,900.