UAE Boasts 24 Billionaires, Ranks 22nd Among Countries with Wealthiest Individuals

UAE Boasts 24 Billionaires, Ranks 22nd Among Countries with Wealthiest Individuals

Mumbai saw the biggest increase in billionaires worldwide, gaining 26 in just one year.

According to the 2024 Hurun Global Rich List released recently, the UAE has 24 billionaires, ranking 22nd among countries hosting ultra-rich individuals worldwide. Dubai, a city in the UAE, ranked 28th globally, with 21 billionaires residing there.

The Hurun Global Rich List 2024 identified a total of 3,279 billionaires from 2,435 companies and 73 countries, marking an increase from the previous year. China maintained its position as the country with the most billionaires, followed closely by the USA and India, which saw significant increases in billionaires numbers.

In terms of cities, New York topped the list as the billionaire capital of the world, with Mumbai ranking third and becoming Asia's billionaire capital due to a substantial increase in billionaire residents. Other cities like New Delhi, Palm Beach, Istanbul, Mexico City, and Melbourne also entered the top 30 list of billionaire cities.

Top 10 billionaires

The top 10 wealthiest individuals in the world collectively gained $426 billion in new wealth, which accounts for 56% of the total new wealth. Their combined net worth is $1.5 trillion, constituting 10% of the entire list. Eight of these individuals are from the US, while one each is from France and India.

At 52 years old, Elon Musk holds the title of the richest person in the world for the third time in four years, with a net worth of $231 billion, mainly due to Tesla's stock surge. Jeff Bezos, aged 60, follows closely in second place with $185 billion, marking a 57% increase in wealth driven by Amazon's cloud computing market dominance.

Bernard Arnault, aged 74, dropped to third place with $175 billion, while Mark Zuckerberg, aged 39, secured fourth place with $158 billion. Larry Ellison, aged 79, and Warren Buffett, aged 93, share the fifth position with a net worth of $144 billion each.

Completing the top 10 list are:

  • Steve Ballmer, 67 ($143 billion)
  • Bill Gates, 68, ($138 billion)
  • Larry Page, 50 ($123 billion)
  • Mukesh Ambani, 66, dropped down one place to 10th, despite his wealth rising 40 percent to $115 billion.

Mukesh Ambani and his family retained their title as India's wealthiest individuals. Mukesh Ambani gained attention earlier this month for hosting a luxurious pre-wedding celebration for his youngest son.

Founded in the UK in 1999, Hurun is a research, media, and investment group that fosters entrepreneurship through its lists and research. According to its website, Hurun has organized prestigious events over the past few years in various cities worldwide, including China, India, London, Paris, New York, Los Angeles, Sydney, Luxembourg, Istanbul, Dubai, and Singapore.

News Source: Khaleej Times

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