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1. Which city has been declared the world's richest city in terms of sovereign wealth funds?
Abu Dhabi has been crowned the world's richest city due to its substantial sovereign wealth funds, estimated at $1.7 trillion. This significant wealth is primarily attributed to the discovery of oil in the 1950s, making Abu Dhabi one of the world's top energy producers. The city holds 95% of the UAE's oil reserves and 92% of its gas reserves, solidifying its position as a global financial powerhouse. This ranking is based on the city's impressive capital reserves, surpassing other major cities like Oslo, Beijing, Singapore, and Hong Kong.