Money is one thing that Dubai doesn’t lack. What do you believe the wealthiest people in Dubai do with their money, as it is one of the world’s premier luxury capitals?
There have been some wild rumors about the extravagant tastes of super-rich celebrities, but nothing compares to the luxurious lifestyle of the Dubai elite.
By the end of 2020, it is estimated that the Middle East will have a total of $4.3 trillion in private wealth. With 35,000 high-net-worth individuals reportedly migrating to the UAE over the past 20 years, Dubai has reaped the benefits of a large portion of this private wealth.
So, what are these Dubai billionaires doing in the most decadent sand hole in history?
They have countless options for how to spend their money, but we’ve only mentioned a few.
The wealthy in Dubai enjoy showering things with gems as part of their passion of giving everything the royal treatment. You have probably already seen the pictures, but here is a walk down memory lane.
The dazzling yellow metal is said to be the obsession of Dubai’s wealthy. Every now and then, you’ll see the rich kids of Dubai parading a new blingy accessory that befits the emirates fascination with gold, whether it’s a custom-made 24-carat gold iPhone or a Mercedes entirely plated in white gold. Simply travel to Dubai to witness a $2.4 billion custom-built Bugatti L’Or Blanc or a gold-decked SUV, as these are owned by Arab billionaires who have moved in the City of Gold.
If seeing gold-plated automobiles doesn’t amaze you, seeing a toilet made completely of solid gold will undoubtedly do the trick!
The wealthy class of Dubai has developed certain peculiar spending habits due to their expensive lifestyle, which may appear absurd to most people but is very normal to them.
When you inform folks that the number plate costs them more than the typical Lamborghini Aventador, they won’t even blink an eye in Dubai! Among the top purchases made by Dubai’s elite is having customized number plates, regarded among the city’s wealthy inhabitants and expatriates as one of the defining status markers. Because of this, multibillionaire businessman Arif Ahmad Al Zarouni paid a staggering AED 18 million to get the Sharjah No. 1 plate.
The super-rich has everything, including private aircraft, Lamborghinis, and magnum champagne bottles, but how can they possibly go even further?
Those with enough money can show off their wealth by having a collection of pets that includes giant cats and exotic animals. Humaid Abdulla Albuqaish, a billionaire Persian, must be among the most peculiar people ever.
The wealthiest people in Dubai have pets like chimpanzees, cheetahs, lions, and tiger cubs, among other exotic animals.
In Dubai, more wealthy people now buy private jets than in the past, and this trend is expected to continue.
They want to escape the hassles that travelers on commercial flights have to deal with while dealing with security and congestion at airports. Additionally, chartering a jet allows travelers to establish their own flight schedules and select their departure dates without worrying about layovers or itinerary changes.
To get a glimpse into how much the wealthy in Dubai spend on their gold and diamond-encrusted jewelry, just take a look at the collection of images shared by the Instagram account richkidsofdubai. On the social media accounts of Dubai’s wealthy elite, you may find magnificent jewelry like a 50-carat diamond Bulgari Serpenti bracelet costing $75,000 and Harry Winston’s renowned emerald-clustered diamond watch worth $1M.
Richest people remain updated with the latest season’s releases. A personal fashion advisor is the best individual to advise them and help them choose their ideal new outfit. These personal shoppers even have the professional connections to close the most opulent designer establishments for private fittings because they are skilled at knowing what looks good on various body types and price ranges.
Luxury and expensive hotels have long been associated with the portfolios of the wealthy, and the elite of Dubai are no exception. The extravagant extravagances services by some of Dubai’s most pricey and opulent hotels are another habit that the wealthy population enjoys. For instance, a single night at one of the two underwater rooms at the Atlantis, The Palm would set you back more than $8k, and a night at the fabled Burj Al Arab may set you back a stunning $24k, which is probably more than some of us pay for our monthly rent!
It is clear that Dubai’s elite, in addition to a fondness for the showy, also has a unique sweet spot for gold. Dubai is also recognized for its unique gold-flavored delights, so their love of gold doesn’t just stop with jewelry and accessories! There is a lot of gold-infused food available for the wealthy in Dubai to delight in, from the $1,200 cupcake at the renowned Bloomsbury Cupcake Shop to “The Golden Phoenix,” which includes 23-carat edible gold sheets in addition to gold-dipped strawberries!
Dubai’s wealthiest individuals invest their money on opulent real estate. They choose unmatched homes of upscale villas and overwhelming convenience that provide more grandeur, scale, architectural flair, or an upgrade for affluent living. They adore having stunning examples of contemporary architecture with cutting-edge amenities as their own homes.
They enjoy having luxurious homes with features like well-kept gardens, in-home elevators, personal swimming pools, exclusive access to beaches, and golf clubs.
The ultra-wealthy people of Dubai find cash withdrawals to be too mainstream; they prefer ATMs that pour forth gold instead. It’s absurd, isn’t it? That, however, is just another usual luxury item in Dubai. In fact, there are gold-made ATMs that actually distribute gold coins, bars, and medallions in Dubai. Swiping your card operates exactly like any other ATM, except that gold is released as opposed to cash. The renowned Burj Khalifa has one of these devices installed.
Have you ever witnessed a line-up of posh cars? This Thursday night in Dubai is just like any other. In Dubai, especially among the super-rich, it’s common to see expensive sports cars. The wealthy in Dubai are known to drive their Bugattis and Lamborghinis for errands like running to the grocery store, whereas others of us can only dream of doing so!
Another well-known trait of the royal family of Dubai is their passion for expensive supercars. Your Highness Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai and one of the wealthiest people in the world with a net worth of $13.9 billion, was the first to receive a specially constructed Mercedes Benz G55 AMG.
A private encounter with a celebrity is how Dubai’s wealthiest citizens spend their money! Booking their favorite celebrities for a private meeting is all the filthy rich elite in Dubai needs to do. Celebrities like Chris Brown, Wiz Khalifa, French Montana, Paris Hilton, and Paris Hilton will perform at your party, and you won’t have to pay them much—around AED 1.1–1.8M—which is nothing to a billionaire.
Saif Ahmed Belhasa, the 14-year-old son of the well-known Dubai construction magnate, has posted pictures on social media with celebrities like Jackie Chan, Akon, Messi, and Nicki Minaj.
Dubai Owning horses and spending money on their care, nutrition, and well-being is a famous pastime of the royal family. Because Dubai is regarded for having the world’s greatest horses, they are valuable and pricey.
The wealthiest residents of Dubai spend their money on a lavish lifestyle and own the most opulent and expensive homes, cars, hotels, and other possessions.
The few sources of income for Dubai’s wealthiest people are given here. I genuinely hope you found it enjoyable.
Al-Nahyan is among the wealthiest monarchs in the world as the hereditary ruler of Abu Dhabi, the richest emirate in the United Arab Emirates. Along with managing 97.8 billion barrels of reserves, he also oversees one of the biggest sovereign wealth funds, which has assets estimated at $830 billion.
According to a recent study, the most wealthy residents of Dubai reside in Jumeirah, Al Barsha, Arabian Ranches, Al Thanyah, and Umm Suqeim.