Saudi Aramco became the first company to reach a $2 trillion valuation after its 2019 stock-market debut.
The Saudi Arabian oil company listed shares on the Saudi Exchange in December 2019. Its valuation passed $2 trillion during early trading, although the price later moved below that level. The company’s enormous oil reserves and production capacity were central to the market’s assessment.
Saudi Aramco’s offering was one of the most closely watched initial public offerings in history. Unlike technology companies, its value is closely tied to oil prices, production expectations, refining, chemicals, and government policy.
The company is often compared with Apple because both reached the $2 trillion threshold, but they did so in different markets and sectors. Apple reached the milestone in 2020; Aramco’s first $2 trillion moment came soon after its listing.