Kevin O’Leary, known for grilling entrepreneurs on Shark Tank, is making headlines for an investment of a different kind. In a surprising turn, the acerbic investor revealed in 2023 that he is now a citizen of the United Arab Emirates (UAE). The news broke on LinkedIn, where O’Leary shared his excitement.
But why would a Canadian-American business magnate with a net worth of $400 million make such a move? It turns out that the United Arab Emirates is not just luxury skyscrapers and desert safaris: it is a hotbed of innovation, business and global finance.
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“Abu Dhabi is quickly becoming a hub for innovation, finance and entrepreneurship. I wanted to be a part of that,” O’Leary explained.
The UAE’s growth shows no signs of slowing, with KPMG forecasting economic expansion of 6.7% in 2025, far outpacing the United States, whose growth is projected by the IMF to grow by 2.2%.
Strategic investments in renewable energy, artificial intelligence and fintech are driving this economic boom. Initiatives such as the UAE National Artificial Intelligence Strategy 2031 are designed to position the nation as a leader in emerging technologies.
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Dubai, one of the UAE’s most vibrant cities, has also attracted global attention as a financial hub. More than 60 hedge funds have set up operations there, taking advantage of the city’s tax-free policies and world-class infrastructure.
This influx of investment underlines the UAE’s business-friendly environment, where foreign investors can enjoy benefits such as 100% ownership in free trade zones and zero income taxes.
In addition to these financial advantages, the UAE’s geographical location is an important asset. Strategically located between Europe, Asia and Africa, it provides unparalleled access to some of the world’s fastest growing markets. For O’Leary, it’s not about abandoning North America but about expanding opportunities.
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“You talk about financial services and the scale of how fast it’s growing is absolutely enormous. You have to go there because that’s where the money is,” he said in a recent YouTube video.