Saudi Aramco briefly became the world's most valuable public company by market capitalization in 2019 after its IPO.
Saudi Aramco began trading in December 2019, and its shares rose during the first sessions. The resulting market value exceeded that of Apple, making Aramco the most valuable listed company at that point. Its valuation was close to $2 trillion, although the share price later moved with markets and oil-related expectations.
The company is the national oil company of Saudi Arabia and remains majority-owned by the Saudi government. Its activities include crude-oil production, natural gas, refining, petrochemicals, shipping, and international marketing.
The ranking was temporary because market capitalization changes continuously. Companies with large valuations can exchange positions as share prices move, while energy companies are also influenced by oil prices, production expectations, and geopolitical developments.