Some did, others didn't. Some have built their next company out of Dubai (and are doing well), others have opted to base it somewhere in Europe with the staff being based in Europe (and they commute a few days per week from Dubai).

However, they are all spending their money in Dubai (property, purchases, etc), so generally a net win for the local economy.

A lot of foreign brands (i.e. supermarkets, car manufacturers, certain fashion brands) are concessions that are held by local Emirati families granted to them decades ago by the Sheikh. So those profits mostly flow back to the local Emirati population.