The richest city in the world? Not New York or London..!?

Governments of various countries create their own funds and invest them in stocks and bonds to earn income. Abu Dhabi has the honor of being the richest city in the world in terms of government-run investment funds. Abu Dhabi is the richest city in the world by the value of investment funds managed by the government. Based on the data released on behalf of Global SWF (Sovereign Wealth Funds), the government of Abu Dhabi ranks first in the world with investment funds of 1.7 trillion US dollars as of the current month. Sovereign Wealth Funds are investment rivers run by governments. These create wealth by investing in assets like stocks, real estate, and bonds. This money will be used for government expenditure. And investments will be made in industries and economies.
Abu Dhabi is one of the most invested capital cities in the world. As far as the king of Abu Dhabi is concerned, he receives a significant amount of income from various funds, including the Emirates Investment Authority Fund, and Abu Dhabi Investment Authority Fund. Of this, Abu Dhabi's Royal Private office Fund is valued at $344 million. Excluding this, the total value of Abu Dhabi's government-run funds is US$1.7 trillion.
Abu Dhabi ranks first among cities with government investment funds and ranks first internationally in terms of the number of employees working in this sector. This means that the Abu Dhabi government has employed a total of 3,137 employees in these funds. The growth is attributed to the portfolio of investment companies operating here and the oil and gas reserves owned by the city. Abu Dhabi has been the world's largest oil and gas producer since the 1950s. As far as the government is concerned, whenever it started to engage in the oil and gas business, various funds were started on behalf of the government.

The Abu Dhabi Investment Authority Fund was originally launched by the government of Abu Dhabi. These funds invest in international markets and earn income. Oslo, Singapore, Riyadh, Hong Kong, and dubai also feature in the list of richest cities based on government investment funds.
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Sowmiya Sriram

15/10/2024 11:02 AM