Dubai has become the main center of high net worth and is already home to more than 120 of the families and the richest people in the world, with a total net worth of more than $1 trillion, the Dubai International Financial Center (DIFC) reported this Monday.
The center said in a statement that it has registered “an increase in interest in family wealth management” in Dubai, with more than 440 registered foundations and more than 600 active entities affiliated with major family businesses and individuals.
Thus, the DIFC registered an increase of 81% in individual offices in 2023, in addition to a 12% increase in portfolio companies, given the growing interest of companies “which may be established by a qualified applicant or for a qualified purpose”.
With this data, the center recalled that it has contributed to “place Dubai like the number one city” from the Middle East, Africa and South Asia region and “among the 22 richest cities in the world”, hosting more than 120 of the richest families and individuals on the planet with a total net worth of more than $1 trillion.
In fact, the wealthy Arab emirate’s population includes more than 68,500 individuals with at least $1 million in liquid assets, 206 with a net worth of at least $100 million, and 15 billionaires.
Source: Gestion
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
