The UAE wealth migration trend is gaining momentum as five billionaires recently moved to the country. Regulatory reforms, attractive tax policies, and Golden Visas make the UAE a top choice. Furthermore, this trend reflects a global shift of capital toward the Gulf.
John Fredriksen, a Norwegian shipping magnate worth over $10 billion, relocated significant business operations to the UAE. He cited the UK’s end of its “non-dom” tax regime as a key reason. Fredriksen built one of the world’s largest oil tanker empires. His move marks a major shift in global wealth.
Michael Edward Platt, a British billionaire hedge fund manager, also joined the Migration of global millionaires to the UAE. He co-founded a major hedge fund that managed more than $35 billion at its peak. In June 2025, Platt moved his residence and family office to the UAE. His firm had expanded in the country after regulatory approval.
Hravin Mittal, 37, founder of a global technology investment firm, relocated his business and family base to the UAE. He is part of one of India’s wealthiest families and owns a large stake in a UK telecom company. In April 2025, Mittal registered a new branch in Abu Dhabi. This move came amid stricter UK tax laws.
Russian entrepreneur Pavel Durov, founder of a secure messaging platform, has lived in the UAE since 2017. After political pressure in Russia, he moved his company’s headquarters to Dubai. Now a UAE citizen, Durov ranks among the world’s richest people. He is also recognized as a leading regional entrepreneur.
Egyptian billionaire Nassef Sawiris, worth nearly $10 billion, relocated his family office to Abu Dhabi’s financial hub. He holds major shares in top companies, including a fertilizer producer and global sportswear and cement firms. His move further strengthens the UAE as a centre for elite wealth management.
Overall, the UAE wealth migration trend shows the country’s growing appeal. Billionaires seek stability, tax advantages, and business opportunities. Experts expect this trend to continue rising.
