The United Arab Emirates (UAE) and Dubai have demonstrated their growing prominence on the global stage, as reflected in the 2024 Hurun Global Rich List. This annual index showcases the world’s wealthiest individuals and highlights the evolving landscape of global wealth distribution.
The UAE ranks 22nd among countries hosting global ultra-high net worth individuals, with 24 billionaires according to the 2024 Hurun Global Rich List. Dubai, in particular, secured the 28th spot on the list, boasting the highest number of billionaires, totaling 21.
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The latest Hurun Global Rich List for 2024 features 3,279 billionaires across 73 countries, representing 2,435 companies. This marks a 5 percent increase in the billionaire count compared to the previous year, with their collective wealth rising by 9 percent.
China maintained its position as the leading hub for billionaires, with 814 individuals, followed closely by the USA with 800 billionaires. India emerged as the third-ranking country with 271 billionaires, nearly double the count of billionaires in the UK, which ranked fourth.
Mumbai demonstrated rapid growth as a billionaire capital, adding 26 billionaires within the year and securing the third place globally. New Delhi also made its debut in the Top 10 billionaire cities. Additionally, Palm Beach, Istanbul, Mexico City, and Melbourne secured positions in the Hurun Top 30 cities.
The top 10 billionaires collectively amassed $426 billion, representing 56 percent of the total new wealth, which totaled $1.5 trillion. Notably, eight of them are from the US, with one each from France and India.
Elon Musk emerged as the world’s wealthiest individual for the third time in four years, with a net worth of $231 billion, driven by Tesla’s stock surge. Jeff Bezos claimed the second position with $185 billion, followed by Bernard Arnault, Mark Zuckerberg, Larry Ellison, Warren Buffett, Steve Ballmer, Bill Gates, Larry Page, and Mukesh Ambani.
Mukesh Ambani and his family retained the title of India’s wealthiest individuals. Ambani made headlines earlier this month for hosting an extravagant pre-wedding celebration for his youngest son.
Hurun, established in the UK in 1999, is a research, media, and investment group that fosters entrepreneurship through its comprehensive lists and research initiatives. The organization hosts high-profile events across various global cities, promoting entrepreneurship and wealth creation worldwide. Among cities, New York reclaimed its position as the billionaire capital of the world, followed by London, Mumbai, Beijing, and Shanghai.
