Reportage with Fabian Huber for stern – published in issue 51/2025
From a fishing village to a global hub in 50 years, Dubai has metastasized into the world’s most glittering laboratory of modern capitalism. It is the ultimate playground for crypto-bros, tax exiles, and sanctioned oligarchs.
Josef Kleindienst, an Austrian real estate mogul, builds a fake Europe with underwater suites, while yachts hide under the radar and cash buys „Golden Visas.“ In the same towers, crypto exchanges wash money while unbuilt villas sell for millions.
The dream is simple: a mansion on the Palm Jumeirah, a sleek sports car, and relaxing in a Russian banya just like home. For those hiding a fortune, it is a sacred sanctuary to live without restrictions.
But for those building this luxury, reality looks different: tens of thousands of migrant workers inhabit cramped labor camps in the shadow of the Burj Khalifa. As long as the sun sets behind the propped-up palms, Dubai asks no questions.
Reportage with Fabian Huber for stern – published in issue 51/2025
From a fishing village to a global hub in 50 years, Dubai has metastasized into the world’s most glittering laboratory of modern capitalism. It is the ultimate playground for crypto-bros, tax exiles, and sanctioned oligarchs.
Josef Kleindienst, an Austrian real estate mogul, builds a fake Europe with underwater suites, while yachts hide under the radar and cash buys „Golden Visas.“ In the same towers, crypto exchanges wash money while unbuilt villas sell for millions.
The dream is simple: a mansion on the Palm Jumeirah, a sleek sports car, and relaxing in a Russian banya just like home. For those hiding a fortune, it is a sacred sanctuary to live without restrictions.
But for those building this luxury, reality looks different: tens of thousands of migrant workers inhabit cramped labor camps in the shadow of the Burj Khalifa. As long as the sun sets behind the propped-up palms, Dubai asks no questions.