Kevin O’Leary, known for grilling entrepreneurs on Shark Tank, is making headlines for an investment of a different kind. In a surprising twist, the sharp-tongued investor revealed in 2023 that he’s 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 innovation, business and global finance.
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“Abu Dhabi is fast becoming a hub for innovation, finance and entrepreneurship. I wanted to be part of that,” O’Leary explained.
The UAE’s growth shows no signs of slowing, with KPMG forecasting a 6.7% economic expansion in 2025, far outpacing the U.S., which the IMF projects will grow by 2.2%.
Strategic investments in renewable energy, artificial intelligence and fintech drive this economic boom. Initiatives like 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. Over 60 hedge funds established operations there, capitalizing on the city’s tax-free policies and world-class infrastructure.
This influx of investment underscores the UAE’s business-friendly environment, where foreign investors can enjoy benefits like 100% ownership in free trade zones and zero income taxes.
In addition to these financial advantages, the UAE’s geographic location is a major asset. Strategically positioned between Europe, Asia and Africa, it provides unparalleled access to some of the world’s fastest-growing markets. For O’Leary, this isn’t 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 got to go there because that’s where the money is,” he said in a recent YouTube video.
