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Dubai in the UAE has been the biggest driver of growth in recent years, and the Middle East tensions come at a critical time in the luxury industry.

WBD CEO David Zaslav could see a payout of more than $800 million after the Paramount Skydance merger.

Washington state's first-ever income tax would impose a 9.9% tax on income of more than $1 million a year.

Experts say the global turmoil may have even helped demand for rare collectibles, as the wealthy search for safe, long-term stores of value.

Since the start of the U.S.-Iran war, Dubai's status as a haven for the global elite has been shattered.