Kuwait has secured its position as the seventh richest city in the world in terms of sovereign wealth funds, boasting an impressive wealth of up to $978 billion, according to a recent report by Al Anba newspaper. This ranking is based on a new global classification of cities released by Global SWF, which evaluates cities based on the capital managed by their sovereign wealth funds.

Top Cities by Sovereign Wealth Fund Assets

Leading the list is Abu Dhabi, recognized as the richest city globally with a staggering $1.67 trillion in managed assets as of October 2024. This total includes capital from notable institutions like the Abu Dhabi Investment Authority, Mubadala, and the Abu Dhabi Fund for Development.

Following Abu Dhabi, Oslo ranks second with $1.66 trillion, while Beijing takes third place with $1.34 trillion. Singapore holds the fourth position, managing approximately $1.13 trillion.

The Saudi capital, Riyadh, ranks fifth with about $1.11 trillion, and Hong Kong follows closely in sixth with $1.1 trillion. Collectively, these six cities account for roughly two-thirds of the global sovereign wealth fund capital, amounting to around $12.5 trillion.

Abu Dhabi's Investment Portfolio

The report highlights that over recent decades, Abu Dhabi, often referred to as the “Capital of Capital,” has cultivated a diverse investment portfolio, becoming home to some of the largest and most dynamic investment institutions worldwide. Besides sovereign wealth funds, the emirate also hosts major asset owners, including central banks and public pension funds. Abu Dhabi’s total wealth is estimated at $2.3 trillion, with projections to reach $3.4 trillion by 2030.

Kuwait's wealth from sovereign funds reflects its economic potential and stability in the region. With strategic investments and growth opportunities, it remains a key player in the global financial landscape.