How the elite in Dubai spend their money
Let’s be honest, the lives of the rich and fancy pique our curiosity! Magazines such as Hello!, OK! and a slew of others have made millions out of feeding our vicarious sensibilities and giving us a glimpse into the lives of the super-rich across the world. Being one of the quintessential luxury capitals in the world, how do you think the uber-rich people in Dubai spend their money? You might have heard a few outrageous stories about the luxurious tastes of super-rich celebrities but nothing comes close to the decadent extravagance of the elite in Dubai. From custom-made couture to cars made entirely out of gold, today MyBayut brings you a list of the unbelievable ways rich people in Dubai spend their money.
If you are super-rich then why not?
The super rich in Dubai appear to live by the adage that, if you have it, flaunt it! You might have come across people splurging serious sums of money on luxury cars and houses, but in Dubai, if it’s not made of gold it’s probably not worth mentioning. This is why the City of Gold has a very particular set of things which are perceived as status symbols by the elite. Our list contains some of the most epic and outrageous ways people in Dubai choose to spend their many millions or in some cases even billions.
The Midas Touch
If it isn’t covered in gold then it is probably not very interesting to a Dubai elite, unless of course if it is covered in diamonds instead. Giving old King Midas a serious run for his money, the rich people of Dubai are known to be obsessed with the shiny yellow metal. Whether it’s a custom-made 24-carat gold iPhone or an entire Mercedes covered by white gold, every now and then you’ll find the rich kids of Dubai flaunting a new blingy accessory that befits the emirates fixation with gold. If you want to see a $2.4B custom-made Bugatti L’Or Blanc or a gold-decked SUV then just visit Dubai because these are owned by Arab billionaires settled in the City of Gold. If you aren’t surprised by gold-studded cars then your eyes will definitely pop when you see a toilet made entirely out of solid gold!
The Gold ATMs
Withdrawing wads of money is just too mainstream for the super-rich residents of Dubai; it’s ATMs spewing gold that is more up their alley. Unbelievable, right? However, that is just another typical rich-people-thing in Dubai. There are actual ATMs in Dubai that are not only made out of gold but even dispense gold coins, bars and medallions. It works just like any other ATM machine where you swipe your card but instead of money, gold comes out. One such machine is installed in the iconic Burj Khalifa.
The Celebrity Connections
If you missed out on your chance of meeting your favourite celebrity then don’t worry, you can hire them for a private meeting! Most of us can only wish to be lucky enough to click a selfie with our favourite stars but for the filthy rich elite in Dubai, it is just a matter of booking their favourite stars for a private meeting. Celebrities like Wiz Khalifa, French Montana, Paris Hilton and Chris Brown will play and even DJ at your party but you’ll only have to pay them around AED 1.1–1.8M, which is no biggie for billionaires. The 14-year-old son of the famous construction mogul in Dubai, Saif Ahmed Belhasa has a social media account where he has uploaded photos with the likes of Jackie Chan, Akon, Messi and Nicki Minaj.
The million-dollar License Plates Numbers
Yes, you read that right, not thousands but millions. The extravagant lifestyle of the elite class of Dubai has led them to develop some unusual spending habits, which may seem outrageous to most people but for them, it is perfectly normal. In Dubai, people won’t even bat an eyelid when you tell them that the number plate actually cost them more than an average Lamborghini Aventador! Considered as one of the defining status symbols among the rich locals and expats in the city, getting customised number plates is one of the top things Dubai’s elite spend their money on. That is why billionaire businessman Arif Ahmad Al Zarouni spent a whopping AED 18M just to own the Sharjah No 1 plate.
The Outrageous Accessories
Just take a look at the series of photos posted by Instagram account richkidsofdubai to get a sneak peek elite residents and expats buying gold in Dubai. A 50-carat diamond Bulgari Serpenti bracelet worth a cool $75,000 and Harry Winston’s iconic emerald-clustered diamond watch worth $ 1M are among some of the fine jewellery flaunted on the social media pages of Dubai’s rich elite.
The Glamorous Hotels
Expensive and luxury hotels have long been associated with the portfolio of rich people, and the Dubai elite are no different. One other habit that the rich people in Dubai like to indulge in is to enjoy the over-the-top luxuries provided by some of the most expensive and lavish hotels in Dubai. For instance, spending a single night at one of the two underwater rooms at the Atlantis, The Palm would cost you over $8k and a night at the famous Burj Al Arab can cost a whopping $24k, which is probably what some of us spend on our annual rent!
The Swanky Rides
Ever seen a luxury car traffic jam? In Dubai, this is just a normal Thursday evening. Luxury sports cars are a routine sight in Dubai, especially for the super-rich. While some of us can only dream about driving our favourite supercars, Dubai’s elite are know to take their Bugattis and Lamborghinis for a quick grocery run! The royal family of Dubai is also well known for their love of exclusive supercars. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, one of the world’s richest billionaires with a net worth of $13.9B was the first person to receive a custom made Mercedes Benz G55 AMG.
The Passion for Fashion
It is a well-known fact that the elite in Dubai are serious fashionistas. The Dubai Mall alone is a testament to the city’s never-ending love for couture. The latest collections of Valentino, Gucci, Prada, Chanel, Burberry and more, are known to be first seen on the super-rich in Dubai.
The Gold Plated Dining
It’s easy to see that apart from a love for the flamboyant, Dubai’s elite also has a special soft corner for gold. But their love for gold doesn’t just stop with jewellery or accessories; Dubai is also well known for its special gold flavoured treats! From the $1,200 cupcake at the famous Bloomsbury Cupcake Shop, to ‘The Golden Phoenix’ which features 23-carat edible gold sheets in addition to gold-dipped strawberries all served on a gold-plated cake stand, there’s plenty of gold-infused food for the elite in Dubai to indulge in!
Apart from these high-end tastes of the elite in Dubai, the city’s super-rich also spend some serious money on their homes! From bespoke luxury fittings to interiors designed by famous artists from around the world, the billionaire and millionaires in the city take luxury lodgings to a whole new level. Areas like Emirates Hills and Palm Jumeirah are known for their ultra-luxurious houses where investors will happily blow well over AED 50M for fantastic properties complete with manicured gardens, in-house elevators, private pools, private beach space and access to golf clubs. If you are wondering what is the most expensive house in Dubai, our guide has got you covered.
If you’re wondering is gold cheaper in Dubai, our guide gives you a brief insight into prices and why should you buy gold in Dubai.
And that’s how the super rich live in Dubai. Stay tuned to Dubai’s best property blog for more such interesting insights into life in the emirate!
