A bird’s eye view of Abu Dhabi. ARCHIVE

Abu Dhabi has been recognized as the wealthiest city globally in terms of sovereign wealth fund (SWF) assets, according to a report by Global SWF. The city boasts $1.7 trillion in assets managed by its various SWFs, placing it above Oslo, home to the Government Pension Fund (GPF), which manages $1.6 trillion. Abu Dhabi’s key SWFs include the Abu Dhabi Investment Authority, Mubadala Investment Company, and the Abu Dhabi Developmental Holding Company, among others. These institutions have made the emirate a global financial powerhouse. Collectively, these funds play a pivotal role in driving Abu Dhabi’s economy and solidifying its global financial standing. The report highlights how Abu Dhabi, often referred to as the “Capital of Capital,” leads in both financial capital and human capital, with 3,107 employees working in the city’s SWFs. The report also estimates that Abu Dhabi's public capital, including assets held by central banks and pension funds, will reach $3.4 trillion by 2030. Diego López, Founder and Managing Director of Global SWF, said, “The world ranking confirms the concentration of sovereign wealth funds in a select number of cities, underscoring the significance of these financial hubs on the global stage.” Abu Dhabi is part of a select group of cities—Oslo, Beijing, Singapore, Riyadh, and Hong Kong—that together manage over two-thirds of the world's SWF capital. As of October 2024, these cities controlled $12.5 trillion in assets, with Abu Dhabi leading the pack. ICA/Expat Media
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