In Pictures: UAE dominates top 100 profitable companies in Fortune 500 Arabia list

The total revenues of the companies listed amounted to approximately $1.6 trillion

Last updated: November 01, 2023 | 12:02

2 MIN READ

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Fortune Arabia has released the Fortune 500 Arabia list, which ranks the 500 largest corporations in the Arab region based on their annual revenues.

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This new list represents a significant moment in the Arab business world and emphasizes transparency, integrity, and market influence.

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The list is based on reported and verified revenues, with a total revenue of approximately $1.6 trillion and net profits of $343 billion US dollars for the companies listed in 2022.

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The UAE is home to the headquarters of 87 Fortune 500 Arabia companies, accounting for about 17% of the list, generating $254.87 billion in 2022, ranking second after Saudi Arabia.

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UAE companies had the highest number of employees, totaling 681,390, accounting for 17.4% of the companies on the list, surpassing Saudi companies with 548,625 employees.

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The UAE is second in terms of the number of companies on the list, following Saudi Arabia's 153 companies.

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Female leaders from the UAE and Morocco prominently featured in Fortune 500 Arabia companies, each accounting for 20% of the female leadership on the list.

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The list of women CEOs included 15 leaders, with the CEO of First Abu Dhabi Bank (FAB), Emirati Hana Al Rostamani, ranking 20th on the Fortune 500 Arabia list.

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In terms of net profits on the Fortune 500 Arabia list, UAE companies ranked third with $49.29 billion, making up 14.36% of the total profits of the 500 companies.

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More than 150 companies on the Fortune 500 Arabia list had revenues exceeding $1 billion, including 23 privately-held companies.

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