UAE has over 220,000 millionaires, with a combined wealth of $1.2 trillion

 


According to the fourteenth edition of the Global Wealth Report, released by Credit Suisse and UBS, the total wealth of individuals and families in the UAE reached $1.2 trillion last year. Financial assets accounted for 56.5% of total assets in the country, remaining relatively stable. The report also revealed that there were 220,753 millionaires in the UAE in 2022, who owned net assets exceeding one million dollars. The report further provided details on the number of individuals in different wealth categories, such as 194,327 people in the $1 million to $5 million category, 16,609 people in the $5 million to $10 million category, and 8,835 people in the $10 million to $50 million category. Additionally, there were 48 millionaires with wealth exceeding $500 million, 334 millionaires with wealth ranging from $100 million to $500 million, and 600 individuals with wealth between $50 million to $100 million. The report also highlighted that wealth per adult in the UAE increased by 11.7% in 2022. Furthermore, the proportion of adults with a wealth of more than $100,000 was 27% of the total, which was higher than the 12

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