Saudi Aramco was the first publicly traded business outside the technology sector to reach about $2 trillion in market value.
Saudi Aramco reached approximately $2 trillion during its December 2019 stock-market debut in Riyadh. The valuation made the Saudi oil producer one of the largest companies ever listed and placed it among the few businesses to approach the valuation previously associated mainly with US technology giants.
The figure was based on the company’s listing price and the number of shares outstanding. Its valuation later fluctuated with oil prices, production expectations, and investor sentiment. Saudi Aramco’s business differs from technology companies because its value is closely tied to petroleum reserves, energy demand, refining, and the strategic importance of Saudi Arabia’s oil industry.