Kevin O'Learyknown for grilling entrepreneurs on Shark Tank, is making headlines for a different kind of investment. In a surprising twist, the savvy 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 tycoon with a net worth of $400 million make such a move? Turns out, the UAE isn't just about luxury skyscrapers and desert safaris – it's a hotbed for global innovation, business and finance.
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“Abu Dhabi is fast becoming a hub for innovation, finance and entrepreneurship. I wanted to be a part of that,” explained O'Leary.
The growth of the United Arab Emirates shows no signs of slowing down, with KPMG predicting an economic expansion of 6.7% in 2025, much higher than the United States, which the IMF projects will grow by 2.2%.
Strategic investments in renewable energy, artificial intelligence and fintech is 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 most vibrant cities in the UAE, has also attracted global attention as a financial hub. Over 60 hedge funds 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 geographical location of the UAE is a major asset. Strategically located between Europe, Asia and Africa, it provides unrivaled access to some of the fastest growing markets in the world. For O'Leary, this is not about abandoning North America but expanding opportunities.
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“You talk about financial services and just the scale of how fast it's growing, it's absolutely huge. You had to go there because that's where the money is,” he said in a statement. recent YouTube video.