Which city has been declared the world's richest city in terms of sovereign wealth funds?

A)
Abu Dhabi
B)
Riyadh
C)
Beijing
D)
Singapore

Correct Answer :   Abu Dhabi


Abu Dhabi has been crowned the world's richest city due to its substantial sovereign wealth funds, estimated at $1.7 trillion.

This significant wealth is primarily attributed to the discovery of oil in the 1950s, making Abu Dhabi one of the world's top energy producers.

The city holds 95% of the UAE's oil reserves and 92% of its gas reserves, solidifying its position as a global financial powerhouse.

This ranking is based on the city's impressive capital reserves, surpassing other major cities like Oslo, Beijing, Singapore, and Hong Kong.

Published On : October 15, 2024