Dubai now hosts around 900 ultra-high-net-worth individuals with assets exceeding $30 million. A significant portion of these millionaires hail from India, Pakistan, and Saudi Arabia.
The study by Altrata and Arton Capital reveals that Dubai’s wealthy population is comparatively younger, with one in five foreign-born ultra-rich individuals under the age of 50.
Around 40% of Dubai’s millionaires built their wealth through a combination of self-made earnings and inheritance, surpassing the global average.
Dubai continues to attract wealthy individuals due to low taxation, flexible regulations, fast-track residency schemes like Golden Visas, and a luxurious lifestyle.
The city’s population surpassed four million last year, driven by an influx of investors and professionals. Over 95% of foreign-born millionaires in Dubai hold assets outside the UAE, indicating the city often serves as a base for wealth diversification rather than a permanent financial hub.
Female representation among foreign-born ultra-wealthy residents is estimated at 7%.
The report highlights sector diversity, with wealthy residents working across industries including industrial conglomerates, financial services, construction, manufacturing, and business services.
The largest shares come from industrial sectors (13%), business and consumer services (12%), banking and finance (12%), construction and engineering (10%), and manufacturing (9%).
One in five ultra-rich individuals globally is foreign-born. The global ultra-wealthy population is projected to rise by about one-third to 734,100 by 2030, while total wealth is expected to grow from $63 trillion in 2025 to $84 trillion by the end of the decade.
By 2030, around 7.7 million people are expected to hold more than $5 million in assets.
Experts quoted in the report say global wealth is becoming increasingly mobile, with individuals structuring assets across multiple countries to reduce dependence on any single jurisdiction.