Why Dalio, CZ And Other Billionaires Are Flocking To Abu Dhabi
Portfolio Pulse from Neil Dennis
Billionaires like Ray Dalio and Changpeng Zhao (CZ) are investing in Abu Dhabi-based SPVs, attracted by low taxes and minimal regulatory scrutiny. The UAE's Abu Dhabi Global Market (ADGM) has seen a surge in SPVs, from 16 in 2016 to around 5,000. The iShares MSCI UAE ETF (NASDAQ:UAE) has increased 78% since early 2020, despite a downtrend since 2022. The UAE's favorable tax treaties and pro-crypto policies are key factors in attracting wealthy investors.
December 11, 2023 | 7:18 pm
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POSITIVE IMPACT
The iShares MSCI UAE ETF (UAE) has seen a significant increase of 78% since early 2020, despite a recent downtrend. The growth in SPVs in Abu Dhabi could indicate a strengthening of the UAE's financial market, potentially benefiting UAE.
The article directly mentions the iShares MSCI UAE ETF (UAE) and its performance, linking it to the broader financial growth in the UAE due to the influx of billionaire investments in SPVs. This could lead to increased investor confidence and a potential rise in the ETF's value in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80