Forbes Middle East magazine, on Wednesday, revealed its annual list, “Top CEOs in the Middle East 2023,” in its third edition, which highlights 100 business leaders who head the largest and most influential local companies in the region.
The executive leaders included in the list succeeded in achieving combined revenues exceeding $1 trillion in 2022, while the combined market value of the companies they manage reached more than $5 trillion, according to Forbes Middle East.
This year's list is topped by Amin Hassan Al-Nasser, President and Chief Executive Officer of Saudi Aramco, the largest producer of crude oil in the world, then Sultan Al-Jaber, CEO and Managing Director of the UAE's ADNOC Group, then Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors and CEO of Emirates Airline & Group.
The top three CEO's all maintain their rankings on the list for the third year in a row.
The list includes 100 business leaders belonging to 22 different nationalities, and Emiratis dominate this year’s list, which included 23 CEOs, followed by Egyptians with 19 leaders, then Saudis with 18 CEOs.
They all constitute about 60% of the ranking, which Forbes Middle East considered a positive sign of localization, as most major companies are headed by local citizens.
Chairman of the Suez Canal Authority Osama Rabie was ranked 15th among the Middle East most Powerful CEO's.
Also, Mohamed el-Etreby, Chairman of Banque Misr was seen on the list, with his 35 years of experience in the banking sector.
The banking sector tops the list with 17 companies, followed by the real estate and construction sector with 14 companies, and communications with 9 companies. The 10 most powerful CEOs also lead companies operating in 6 different sectors, reflecting the diversity of sectors in this ranking.
It is noteworthy that Forbes' list of the most powerful CEOs in the Middle East is prepared according to many factors, including: the achievements and performance of CEOs in the past year, as well as the innovations and initiatives they have implemented, and their influence on the region, and the markets they oversee, in addition to the size of the companies they lead.
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