Saudi Aramco became the first company outside the United States to exceed a $2 trillion valuation.
Saudi Aramco reached the milestone shortly after its 2019 public listing in Riyadh. Its share price surged during the company’s first trading days, briefly placing its market capitalization above $2 trillion and making it the first non-U.S. company to reach that level.
The company’s scale comes from Saudi Arabia’s petroleum resources and its integrated operations. It produces crude oil, processes hydrocarbons, sells fuels, and invests in refining and petrochemicals.
The milestone should not be confused with the first company anywhere to reach $2 trillion: Apple achieved that distinction in 2020. Saudi Aramco’s record was specifically geographic and chronological, referring to a company based outside the United States.