UAE to Attract 9,800 Millionaires in 2025 Amid Global Wealth Migration
The United Arab Emirates is fast emerging as the world’s new epicenter of financial power and luxury living, with a fresh wave of affluent individuals projected to relocate there in 2025. According to the Henley & Partners Private Wealth Migration Report, the UAE is set to welcome at least 9,800 new millionaires within the year, reinforcing its status as a magnet for high-net-worth individuals in search of political stability, financial safety, and lifestyle advantages. The report highlights Dubai and Abu Dhabi as rising global capitals of wealth, drawing attention from investors and billionaires globally, particularly from the UK, Europe, and Asia.
Several prominent billionaires have already shifted their bases to the UAE, setting a precedent that is likely to inspire further migration. Among them is Norwegian shipping magnate John Fredriksen, formerly one of the UK’s wealthiest residents. Fredriksen recently relocated his business interests to the UAE after the British government abolished its “non-dom” tax regime, a move that stripped many wealthy foreign nationals of their tax advantages. Known for commanding one of the world’s largest fleets of oil tankers, Fredriksen's transition is symbolic of a larger trend where the super-rich are exiting tax-heavy jurisdictions in favor of more accommodating environments like the UAE.
Joining this trend is hedge fund billionaire Michael Platt, co-founder of BlueCrest Capital Management. Once Europe’s third-largest hedge fund, BlueCrest managed over USD 35 billion at its peak. In June 2025, Platt officially moved his residence and family office operations to Dubai, marking a significant step in the firm’s regional expansion which began in 2022. His relocation aligns with the broader influx of asset managers and financiers to the Gulf, capitalizing on Dubai’s regulatory reforms and attractive tax landscape.
Shravin Bharti Mittal, son of Indian telecom tycoon Sunil Bharti Mittal and Managing Director of Bharti Global Ltd, has also recently registered a new branch of his global tech investment firm, Unbound, in Abu Dhabi. His move came in April 2025 as part of a calculated response to increasing tax burdens in the UK. The younger Mittal represents a growing demographic of second-generation billionaires exploring strategic relocation to leverage the UAE’s pro-business environment. The Bharti family continues to be the largest individual shareholder in BT Group Plc, underlining their enduring global business reach.
The UAE has also been home to tech entrepreneur Pavel Durov since 2017. After facing political challenges in Russia, Durov established Telegram’s global headquarters in Dubai. Now a UAE citizen, he has become one of the most influential residents in the region. Forbes previously named him the richest expatriate in the UAE, and in 2023, Arabian Business recognized him as Dubai’s most powerful entrepreneur. His continued presence underscores the UAE’s attractiveness to digital innovators and startup founders seeking both operational freedom and global connectivity.
Another notable figure, Nassef Sawiris, Egypt’s wealthiest man, moved his family office NNS Group to the Abu Dhabi Global Market in 2023. Sawiris owns major stakes in OCI NV, Adidas, and LafargeHolcim, and his relocation further boosts the UAE’s profile as a leading destination for elite wealth management. His decision aligns with the growing preference among high-net-worth individuals to base their investment strategies in regions that combine regulatory clarity with a cosmopolitan business environment.
The ongoing transformation of the UAE into a sanctuary for the global elite is fueled by several key factors. The country offers long-term residency programs like the Golden Visa, which grants residency to investors, entrepreneurs, and skilled professionals. Additionally, its tax system imposes no personal income tax, and it provides robust legal protections, advanced financial infrastructure, and a luxurious lifestyle. These elements are increasingly valuable amid global economic uncertainty, fluctuating tax regimes, and geopolitical instability.
Furthermore, cities like Dubai and Abu Dhabi offer unmatched international connectivity, luxury real estate, and a high standard of living, making them ideal for business and personal relocation. The UAE government has proactively reformed regulations to accommodate the needs of wealthy investors, including launching fast-track business registration services, streamlined visa processing, and new residency pathways. These initiatives have resulted in a significant uptick in applications from business moguls and billionaires around the world.
According to the Gulf News report, the UAE’s unique mix of stability, ambition, and investor-friendly policies continues to draw global financial attention. The influx of 9,800 millionaires in 2025 is more than a statistical milestone—it’s a testament to the UAE’s evolution into a powerhouse of economic growth and wealth concentration. As global centers like London, Hong Kong, and New York contend with political pressures and policy changes, the UAE is quietly yet decisively claiming its place at the top of the world’s wealth hierarchy.