The UAE ranks 14th in the world in the number of billionaires as one of its emirates, Dubai, saw billionaires living in the city rise to 36 last year making it first regionally and 11th globally among the largest urban centers for billionaires.
As per the latest report of American Wealth X Foundation, New York tops the list with the most billionaires with 124 people, followed by Hong Kong in second place with 111 billionaires and San Francisco at third place with 81 billionaires.
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Among countries, the UAE ranked 14th in the world in terms of the number of billionaires and the number stood at 50 with a total fortune of $151 billion.
In the UAE the number of billionaires has increased by 6.4% last year, despite a 7.6% drop in wealth, according to Wealth X.
Among the countries, the US ranked first in the world with 927 billionaires with a total wealth of $3.709 trillion, followed by China with 410 billionaires and a total wealth of $1.303 trillion, Germany retaining third place with 174 billionaires with a fortune of $515 billion.
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Dubai has also ranked 16-th globally and first regionally among the most luxurious cities around the world and has over 188 luxury locations and has the highest number of five-star hotels.
Also, the city 112 luxury hotel complexes, including the 7-star Burj Al Arab, Palazzo Versace Dubai and the One & Only The Palm. (AW)
