The United Arab Emirates is poised to welcome approximately 9,800 millionaires in 2025, according to the latest Henley & Partners Private Wealth Migration Report.
This is further cementing its status as a global haven for high-net-worth individuals.
This anticipated influx highlights the UAE’s growing appeal, bolstered by business-friendly regulations, favourable tax structures, and residency incentives like the Golden Visa.
The trend is underscored by the relocation of several globally prominent billionaires and business figures who have chosen to shift their operations and personal bases to the UAE.
One of the most notable among them is Norwegian-born shipping magnate John Fredriksen. Once the UK’s ninth-richest person, Fredriksen has moved a large portion of his business interests from London to the UAE. His decision was largely influenced by the UK government's recent abolition of the “non-dom” tax status. Renowned for building one of the largest oil tanker fleets in the world, Fredriksen’s move symbolises a broader movement of wealth from the UK to the Gulf region.
British billionaire Michael Edward Platt, co-founder of BlueCrest Capital Management, is another high-profile individual who has made the UAE his new base. After previously securing regulatory clearance for BlueCrest’s regional operations in 2022, Platt relocated his primary residence and family office to Dubai in June 2025. BlueCrest, once among Europe’s largest hedge funds, managed over $35 billion at its peak.
Shravin Bharti Mittal, son of Indian telecom tycoon Sunil Bharti Mittal, also recently shifted his base to the UAE. In April 2025, he registered a new branch of his global investment firm, Unbound, in Abu Dhabi. As the Managing Director of Bharti Global Ltd, Mittal’s move was largely motivated by the increasingly stringent tax environment in the UK. The Bharti family continues to hold the largest individual share in BT Group Plc.
Meanwhile, tech entrepreneur Pavel Durov, founder of Telegram, has made Dubai his home since 2017. After fleeing Russia due to political pressure in 2014, Durov and his brother established Telegram’s global headquarters in the UAE. Now a UAE citizen, Durov was named the country’s richest expatriate by Forbes and ranked as the 120th richest person globally in 2024. In 2023, Arabian Business also recognised him as Dubai’s most powerful entrepreneur.
Egyptian billionaire Nassef Sawiris, the wealthiest man in Egypt, has similarly moved his financial operations to the UAE. In late 2023, his family office, NNS Group, was relocated to the Abu Dhabi Global Market (ADGM). Sawiris controls a 30% stake in OCI NV, a top global fertiliser company, and also holds significant investments in Adidas and LafargeHolcim.
According to Gulf News, the UAE’s consistent political stability, advanced financial ecosystem, and welcoming investment climate are key drivers behind this migration. From hedge fund veterans to next-generation tech investors, an estimated 9,800 millionaires are expected to move to the Emirates in 2025.