Fortune 500 Arabia launched its inaugural list in 2023, becoming part of the global Fortune 500 lists that have been published by Fortune magazine in the United States since 1955. 

This year's inaugural edition includes the top 500 Arab companies from 22 Arab countries. These companies have been ranked by their collective revenues, which hit about $1.6 trillion in 2022, yielding a net profit of $343 billion. Private companies not listed on financial markets made up 9% of the list.

Saudi Arabia led the list with the highest number of companies, accounting for 153 out of the 500 companies, or 30%. The United Arab Emirates followed with 17%, then Egypt, Kuwait and Qatar. While Saudi Arabian companies recorded the highest percentage of revenue and profits among the Fortune 500 companies, the UAE had the largest proportion of the top 100 profitable companies on the list.