A new wealth research report by real estate consultants Knight Frank reveals an astonishing 14,994 UAE residents became millionaires in 2019, and a grand total of 197,565 high rollers in the city.
14,994 UAE residents earned over $1 million in 2019
Dubai’s millionaire club soars with 14,994 UAE residents earning $1 million (AED 3.67m) in 2019, an eight per cent increase after last year’s total of 182,768. According to the World Population Review, the UAE’s population is 9.8 million, meaning one in every 49 people is a millionaire!
1,681 ultra-high net worth individuals in the UAE
Meanwhile, the study reveals the UAE got 77 more ultra-high net worth individuals (UHNWIs) last year, earning more than $30 million (AED110.2m). The total tally stands at 1,618. What’s more, the country plays host to 62 billionaires.
Photograph credit: Dubai Media Office
The UAE ranks 29th for most UNHWIs
Knight Frank’s report ranks the UAE at number 29 as home to ultra-high net worth individuals. The US leads the ranks playing host to 240,575 big spenders, followed by China with 61,587 and Germany with 23,078. Click here to access the report.
Photograph credit: Pexels
(Featured photograph credit: Dubai Media Office)