News Dubai is the wealthiest city in the Middle East,...

Dubai is the wealthiest city in the Middle East, latest data revealed

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As the countries in the Middle East ranked based on their wealth, the global wealth compiler New World Wealth revealed that the UAE is wealthiest country in the region, with Dubai as the richest city. 

According to its latest data, 82,763 high and ultra-high net worth individuals in the country own over AED3 trillion wealth as of June 2020. 

The country, based on the same report, homes 12 billionaires; 214 millionaires with $100-million plus; 3,410 millionaires with over $10-million assets; and 79,100 millionaires with over $1-million. These individuals have a combined wealth of AED3 trillion or $825 billion. 

Meanwhile, Israel came in second in the region with $744 billion controlled by the rich, followed by the Kingdom of Saudi Arabia with $482 billion, Turkey with $422 billion, and $266 billion. 

Ryan Namia
Ryan Namia spends most of his days reading over drafts of new written content and determining which ones make the final cut for online and print publication. He received his Bachelor's degree in Journalism in 2015 and has been writing since 2016. Got story to tell? Email him at eic@theglobalfilipinomagazine.com.

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