Dubai is now home to more than 81,000 millionaires!
- Horacle
Dubai continues to consolidate its status as a global financial hub, reaching a new symbolic milestone: more than 81,200 millionaires now reside in the emirate, according to the latest World's Wealthiest Cities Report 2025 published by Henley & Partners in partnership with New World Wealth. Among them are 237 centi-millionaires (wealth > $100 million) and 20 billionaires, positioning Dubai in 18ᵉ place among the world's wealthiest cities.
Growth of 102% in ten years
Between 2014 and 2024, the population of millionaires in Dubai doubled, recording growth of +102%, one of the highest in the world. The emirate joins Shenzhen (+142%) and Hangzhou (+108%) among the only three cities to have surpassed the growth of the American Bay Area (98%).
This remarkable performance is directly linked to the Emirates' economic strategy, which combines advantageous taxation (zero income tax and zero capital gains tax), political stability, world-class infrastructure and openness to international investment.
An even brighter future for the ultra-rich
Dubai has no intention of stopping there. The report predicts that the emirate will double its number of centi-millionaires by 2035, alongside Abu Dhabi. This expected growth confirms the growing role of the United Arab Emirates in the reconfiguration of the global wealth map.
Experts point out that the ultra-rich adopt a strategy similar to that of their investment portfolios: geographic diversification, risk mitigation, and optimization of opportunities via investment-based residency programs. In this context, Dubai appears to be a prime choice, with clear and secure entry routes for wealthy families.
Global comparison: Dubai rises, London falls
While Dubai climbs the rankings, New York remains in the lead with 384,500 millionaires, followed by the Bay Area (San Francisco/Silicon Valley) with 342,400, Tokyo (292,300), and Singapore (242,400).
London, on the other hand, slips down the rankings to 6ᵉ position, the victim of a 12% decline in its millionaire population over the last ten years, as does Moscow, which posts a 25% drop. Conversely, Chicago enters the top 10 for the first time, overtaking Beijing and Shanghai.
The report also highlights the performance of Asian cities such as Shenzhen, which is establishing itself as a global center for emerging technologies (5G, drones, electric vehicles...).
Dubai: an attractive lifestyle and business environment
In addition to its advantageous tax climate, Dubai attracts the wealthy because of the quality of life it offers: a secure environment, top-of-the-range real estate, easy access to world-class medical, educational and cultural services, and an entrepreneurial dynamism that is unique in the region.
The rise of branded residences, private clubs, premium healthcare facilities and diversified business opportunities all contribute to making the emirate a privileged platform for living, investing and transferring wealth.
Conclusion: Dubai, emerging capital of the ultra-rich
With more than 81,000 millionaires, record growth and a solid outlook for the next decade, Dubai is now establishing itself as a serious alternative to traditional financial capitals.
The emirate offers a hybrid model of economic performance, innovation and high-end lifestyle, attracting new wealthy residents from all over the world every year. By 2035, Dubai could well join the world's top 10, redefining the standards of luxury, asset mobility and prosperity on a global scale.
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