For years, Dubai has held the spotlight as the go-to destination for wealth and luxury in the Arab world. But when it comes to the numbers, it’s Saudi Arabia that’s quietly leading the billionaire race. According to recent reports, the Kingdom now holds the highest number of billionaires in the Arab region—71 individuals, collectively worth over $205 billion.
This shift reflects Saudi Arabia’s aggressive push toward economic diversification under its Vision 2030 initiative. While oil wealth still plays a major role, significant investments in sectors like tech, tourism, entertainment, and infrastructure are reshaping the country’s financial landscape. Many of the Kingdom’s billionaires have ties to these emerging sectors, indicating a maturing economy that’s no longer solely reliant on petroleum exports.
Dubai, on the other hand, remains the region’s top city in terms of individual billionaire residents, with 38 living in the emirate. However, the United Arab Emirates as a whole falls short of Saudi Arabia’s total, hosting around 45 billionaires. Dubai continues to attract global high-net-worth individuals thanks to its tax-friendly environment, world-class infrastructure, and business-friendly policies.
The data signals a broader transformation in the region. As Saudi Arabia opens up to global markets and nurtures homegrown innovation, it’s gradually positioning itself as not just a political heavyweight—but a financial one too. While Dubai still dazzles, it’s clear that Saudi Arabia is now setting the pace in terms of regional wealth leadership.
