Dubai continues to solidify its reputation as a global hub for wealth, attracting a diverse array of high-net-worth individuals (HNWIs) from around the world. As of 2025, the city is home to over 81,200 millionaires, including 237 centi-millionaires (individuals with assets exceeding $100 million) and 20 billionaires, marking a significant 102% growth in its millionaire population over the past decade.
Leading Expat Billionaires in Dubai
Several expatriates have risen to prominence in Dubai’s affluent landscape:
- Pavel Durov: Originally from Russia, Durov is the founder of the messaging app Telegram. With a net worth estimated at $15.5 billion, he stands as one of the wealthiest individuals residing in Dubai.
- M.A. Yusuff Ali: An Indian entrepreneur, Yusuff Ali is the chairman of LuLu Group International, a multinational conglomerate. His net worth is reported to be around $8.7 billion.
- Joy Alukkas: Also hailing from India, Alukkas is the chairman of Joyalukkas Group, a leading jewelry retail chain. His wealth is estimated at $4.4 billion.
- Micky Jagtiani: Born in India, Jagtiani is the founder of Landmark Group, a retail and hospitality conglomerate.His net worth is approximately $5.2 billion.
Factors Attracting Wealth to Dubai
Dubai’s appeal to wealthy expatriates is multifaceted: 
- Tax Advantages: The absence of personal income tax and capital gains tax makes Dubai an attractive destination for wealth preservation .
- Business-Friendly Environment: The city’s regulatory framework encourages entrepreneurship and investment, drawing in business leaders from various sectors.
- Luxury Lifestyle: Dubai offers a high standard of living, with world-class amenities, shopping, dining, and entertainment options.
- Strategic Location: Situated at the crossroads of Europe, Asia, and Africa, Dubai serves as a convenient base for international business operations.
These factors, combined with political stability and a robust infrastructure, continue to position Dubai as a magnet for the world’s wealthy, solidifying its status as a leading global city for affluence and opportunity.
