18 February 2026
By Publisher Ray Carmen
In a world where wealth is constantly shifting across continents, one city has surged forward with astonishing speed:
According to recent global wealth reports, Dubai now ranks as the 4th richest city in the world, home to approximately 86,000 millionaires.
Among them:
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Roughly 23,000 ultra-high-net-worth individuals
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An estimated 25,000–30,000 Indian millionaires
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And a rapidly growing class of global investors relocating from Europe, Asia, and Africa
Whether the billionaire figure circulating online is overstated or not, one truth is undeniable:
Dubai has become a magnet for serious money.
From Desert Outpost to Global Wealth Hub
In just a few decades, Dubai transformed from a modest Gulf trading port into a glittering financial powerhouse within the United Arab Emirates.
Unlike legacy wealth capitals such as New York City, Tokyo, or San Francisco, Dubai’s rise has been deliberate and strategic.
Zero income tax.
Investor-friendly residency visas.
Luxury real estate expansion.
Political stability.
World-class infrastructure.
The result? A global wealth migration.
The Indian Wealth Surge
One of the most fascinating aspects of Dubai’s rise is the strong presence of Indian high-net-worth individuals.
Dubai has long been a business gateway between India, Africa, and Europe. In recent years, wealthy Indian entrepreneurs and tech founders have increasingly relocated operations — and families — to the emirate.
The combination of:
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Geographic proximity
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Strong trade links
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Tax efficiency
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Lifestyle appeal
has created a powerful financial corridor between Mumbai and Dubai.
Why the World’s Wealthy Are Moving
Global wealth advisory firm Henley & Partners has repeatedly noted the acceleration of millionaire migration into the UAE.
Key drivers include:
• Tax optimisation
• Political neutrality
• Safety and security
• Luxury property opportunities
• A thriving fintech and crypto ecosystem
• Golden visa residency programmes
Dubai is no longer just a lifestyle city.
It is a capital preservation strategy.
Luxury as Policy
What sets Dubai apart is its understanding that image attracts capital.
The skyline — crowned by the Burj Khalifa.
The man-made marvel of Palm Jumeirah.
The yacht-filled marinas.
The supercar-lined boulevards.
This is not accidental.
Dubai markets ambition.
And ambition attracts billionaires.
A Shift in the Global Wealth Map
For decades, Western cities dominated wealth rankings.
Now, the axis is tilting toward the Middle East and Asia.
Dubai’s ascent to 4th richest city status signals something larger:
The global centre of gravity for private wealth is shifting.
And it is shifting fast.
