Dubai: Dubai has cemented its position as a global destination for ultra-high-net-worth individuals.According to the Billionaire Census 2026 report by Altrata, a leading global wealth consultancy, Dubai maintained its position among the top 15 cities worldwide in terms of the number of resident billionaires, confirming its continued appeal as a global hub for capital and the wealthy.The report indicates that the number of resident billionaires in Dubai reached 43 in 2025, an increase of two compared to the previous year, placing Dubai joint eighth among the top 15 cities globally in terms of billionaire population, tied with Shenzhen, China.The report noted that the list of the top cities globally "shows a clear bias towards American cities, but at the same time, reflects a more diverse geographical distribution" compared to other ultra-high-net-worth lists. It added that major Asian wealth centres are increasingly represented on the list, highlighting the wealth concentrated in cities such as Singapore, Beijing, and Mumbai.The report specifically highlighted that “Dubai and Istanbul also stand out in this regard.”Across the Middle East as a whole, the number of billionaires saw modest growth of 5%, reaching 254 individuals by 2025.According to the report, the main drivers of this growth were “intensive economic diversification efforts away from oil and major sovereign infrastructure programs, which supported capital inflows and opened new channels for wealth creation, particularly in the leading centres of the UAE and Saudi Arabia.”The number of billionaires residing in the UAE rose to 59 by the end of 2025, with a total wealth of $201 billion, representing an 11.3% year-on-year increase after attracting five new billionaires. The UAE ranked 14th globally among the top 15 countries in terms of the number of billionaires, while the top 15 countries collectively accounted for approximately 83% of the total wealth of billionaires worldwide in 2025.Despite this positive growth in the number of billionaires, the report indicated that the total wealth of billionaires in the region declined by 4% to reach $0.7 trillion. This decline is mainly attributed to the weakness of global energy markets and the drop in oil prices by about 20% during the year, the largest annual decrease since 2020.
