New research by Altrata and Arton Capital shows that Dubai’s wealthy population is younger and more diverse than global averages, with many having built self-made fortunes.
Dubai is home to 900 ultra-rich individuals with assets of $30 million (Dh110 million) or more, and most foreign-born millionaires come from India, Pakistan, and Saudi Arabia, according to a new study released on Wednesday.
The report, published by Altrata, which provides intelligence and insights across sectors, and investment migration consultancy Arton Capital, found that Dubai’s wealthy population is younger than in many other markets, with one in five foreign-born ultra-high-net-worth individuals under the age of 50.
According to the report Global Citizens: Entrepreneurship, Mobility and the Ultra Wealthy, around 40 per cent of millionaires in Dubai have built their fortunes through a combination of self-made wealth and inheritance — a significantly larger share than the global average.
Dubai continues to attract wealthy and ultra-wealthy residents from around the world due to its low-tax environment, business-friendly regulations, fast-track residency options such as the Golden Visa, and luxury lifestyle. The emirate’s population crossed the four-million mark last year, driven by an influx of investors and professionals.
The survey found that more than 95 per cent of foreign-born millionaire residents own assets outside the United Arab Emirates, highlighting Dubai’s role as a strategic wealth hub rather than a final destination.
Female representation among foreign-born ultra-wealthy residents is estimated at 7 per cent.
These millionaires come from a wide range of industries, reflecting Dubai’s position as a global commercial crossroads. Unlike many markets where wealth is concentrated in one or two sectors, Dubai shows a more balanced spread across industrial conglomerates, business and consumer services, banking and finance, construction, and manufacturing.
Among the top five primary industries, around 13 per cent come from the industrial sector, 12 per cent from business and consumer services, 12 per cent from banking and finance, 10 per cent from construction and engineering, and 9 per cent from manufacturing.
$84 trillion wealth by 2030
Altrata and Arton Capital also found that one in every five of the world’s ultra-rich individuals is foreign-born, with the ultra-rich population expected to rise by one-third to reach 734,100 by 2030.
The report forecasts that the combined net worth of wealthy individuals globally will increase from $63 trillion in 2025 to $84 trillion by the end of the decade. By 2030, an estimated 7.7 million people are expected to hold more than $5 million in assets.
Armand Arton, CEO of Arton Capital, said global mobility is no longer a byproduct of wealth creation but a strategic asset that supports it.
He noted that the most successful individuals are building access to markets, talent, education, and long-term security across multiple jurisdictions, reducing reliance on any single country.
“The next generation of ultra-high-net-worth individuals is thinking beyond single-country solutions, prioritising flexibility, resilience, and optionality in how and where they live, invest, and grow their wealth,” he said.
Moira Boyle, Senior Director and Global Head of Luxury at Altrata, added that nearly 80 per cent of foreign-born ultra-wealthy individuals are self-made, reinforcing that today’s wealth is increasingly driven by innovation, ambition, and entrepreneurship.
