40. Etihad Etisalat Company (Mobily)

Country: Saudi Arabia
Sector: Telecommunications
CEO: Salman Bin Abdulaziz Al Badran
Market Value: $10.6 billion
Sales: $4.5 billion
Profits: $595 million
Assets: $10.4 billion

Established in 2004, Mobily is a Saudi telecommunications services provider. It had a customer base of 12.3 million mobile subscribers and 298,000 fiber-to-the-home subscribers as of March 2024. Mobily’s net profit grew by 34.7% in 2023 to over $595 million. e& is the major shareholder with a nearly 28% stake. In January 2024, the company signed a $1.3 billion Murabaha financing agreement with the Saudi National Bank.