Dubai is the recent times have became the international hub for business man and is attracting many to choose this city as their residence.
Dubai’s status as a global hub for opulence and luxury is undeniable. In a study by “Henley & Partners,” Dubai took the lead as the wealthiest city in the Middle East and North Africa, securing the 23rd spot worldwide. The city’s affluent population has seen a remarkable 18% increase in the first half of the year, rising from 54,000 to 67,900 individuals. This impressive growth only solidifies Dubai’s reputation as a playground for the world’s wealthiest individuals.
Pavel Valeryevich Durov, the mastermind behind the widely-used instant messaging app “Telegram,” has secured his place as the wealthiest resident in the United Arab Emirates, as per Forbes magazine’s latest data. With an impressive fortune of $11.5 billion attributed to his controlling stake in Telegram, Durov currently ranks 150th on the Forbes’ Real-Time Billionaires list.
Let’s delve into his opulent new residence and the lavish surroundings he now calls home.
A Taste of Dubai’s glamorous lifestyle
Often referred to as the Russian Mark Zuckerberg, Durov, now 38, founded VKontakte, a social media company, after completing his studies at St. Petersburg University in 2006. Under his leadership, the Russian firm amassed over 100 million users.
After several years of moving between countries during the development of Telegram, Durov settled in Dubai in 2017, partly due to the favorable tax policies of the United Arab Emirates.
Nestled within the iconic Jumeirah Islands, Durov’s new abode paints a picture of extravagance and luxury. Dubai’s Jumeirah Islands is a sprawling community comprising interconnected islands with a stunning artificial saltwater lake at its heart. This area, known for its high-end real estate and stunning architecture, attracts the crème de la crème of society, including some of the world’s most successful businessmen.
Pavel Durov’s new residence is a five-bedroom villa spanning an impressive 15,000 square feet. Such grandeur comes at a cost, with the businessman reportedly investing $1 million in annual rent, equating to nearly $85,000 per month. This stunning villa is a reflection of Dubai’s penchant for luxury and sophistication, making it a fitting choice for a billionaire of Durov’s stature.
Jumeirah Islands
Jumeirah Islands, constructed in the early 2000s by Nakheel Properties, is a luxurious community, although less renowned than the palm tree-shaped Palm Jumeirah (where Durov has also spent time). Comprising 46 distinct circular clusters, each containing approximately 16 villas, the community boasts private gardens and pools for each villa. The area also features an exclusive clubhouse with two restaurants, a private gym, a salon, and a barbershop
Dubai’s business elite
Durov joins a league of prominent businessmen who have chosen Dubai as their home base. Notably, Emirati entrepreneur Abdullah Bin Ahmed Al Ghurair, the founder of Mashreq Bank, follows closely behind with a $2.8 billion fortune. Hussain Sajwani, the visionary founder and chairman of Damac Properties, is another heavyweight on the list, boasting a fortune of $2.7 billion. Also in the ranks are Abdullah Al-Futtaim and his family, owners of Al-Futtaim Group, with a combined fortune of $2.4 billion. Dubai’s allure for the business elite is evident in these individuals’ decisions to call the city home.
According to a list of “real-time billionaires.” The UAE is home to 11 billionaires, four of them are Emirati.
Durov’s journey to Dubai
Pavel Durov’s journey to Dubai is one marked by both triumph and resilience. Hailing from Russia, Durov’s success story began with the establishment of VKontakte, a social media company that grew to amass over 100 million users. However, after resisting government interference and data access attempts by the Russian authorities, Durov sold his stake in VKontakte and embarked on a period of nomadic travels.
Settling in Dubai in 2017, Durov found not only a new home but also a tax-friendly environment that welcomed his entrepreneurial spirit. This move marked a significant chapter in his life, aligning his fortunes with the vibrant tapestry of Dubai’s affluent society.
The epitome of luxury livingIn the heart of Dubai’s lavish landscape, Pavel Durov, the tech magnate turned billionaire, has found a residence that matches his ambition and success. As he continues to shape the world of instant messaging, his presence in Dubai’s elite circle is a testament to the city’s allure for those who seek the finer things in life.
