Saudi Aramco became the first company to reach a $1 trillion market capitalization after going public in 2019.
Saudi Aramco’s shares began trading on Tadawul in December 2019 following the largest initial public offering ever recorded by proceeds at that time. On its second trading day, the company’s market value rose above $2 trillion intraday, making its $1 trillion threshold an immediate consequence of the listing’s strong reception.
The IPO sold only a minority stake, leaving the Saudi government as the controlling owner. The listing gave public investors a way to buy shares in one of the world’s largest oil producers while also creating a market-based valuation for part of the business.
The company is often called Aramco, but its formal name is Saudi Arabian Oil Company. Its market capitalization is distinct from the value of Saudi Arabia’s total oil reserves or national economy.