Saudi Aramco became the first publicly traded company valued at $2 trillion after its 2019 stock-market debut.
Saudi Aramco reached approximately $2 trillion in market value in December 2019, shortly after its initial public offering on the Saudi Stock Exchange. The offering made shares in part of the state-owned oil company available to public investors.
Saudi Aramco traces its origins to the California-Arabian Standard Oil Company agreement of 1933. It became one of the world’s largest integrated energy companies, with activities spanning crude-oil production, refining, chemicals, and distribution.
The company’s valuation was based on its enormous hydrocarbon reserves and production capacity, but market prices for oil can affect its value. The $2 trillion figure was also debated because it depended on the share price and the number of shares used in the calculation.