Abu Dhabi’s Rise: Billionaires Flock for Asset Protection

Abu Dhabi has emerged as a preferred destination for billionaires aiming to protect their wealth, witnessing a significant uptick in the establishment of special-purpose vehicles (SPVs) within the Abu Dhabi Global Market (ADGM). The financial hub now boasts over 5,000 SPVs, a substantial increase from a mere 46 in 2016, reflecting a growing trend among high-net-worth individuals (HNWIs) to safeguard their assets. Notable figures like Vladimir Lisin, the Adani family, Ray Dalio, and CZ Zhao are among the affluent investors relocating to Abu Dhabi, contributing to the surge in SPV adoption. The city’s appeal is amplified by its strategic location and favorable financial environment, attracting HNWIs from various jurisdictions.

This influx of wealth into Abu Dhabi is not only driven by its economic allure but is also influenced by geopolitical factors. The ongoing Gaza crisis has prompted some individuals, including a Palestinian businessman, to establish SPVs in Abu Dhabi to secure and protect their assets. This geopolitical dimension adds a layer of complexity to the dynamics of wealth migration, showcasing how global events can shape the choices of HNWIs seeking financial refuge in stable and secure jurisdictions like Abu Dhabi.