Saudi Aramco was the first publicly traded business to surpass a $2 trillion valuation.
Saudi Aramco briefly exceeded $2 trillion in market capitalization during trading on December 12, 2019, its second day on the Saudi stock exchange. The milestone followed the company’s initial public offering, which was the largest in history by proceeds at the time.
The valuation was based on the company’s share price multiplied by its publicly listed shares. Saudi Aramco retained a large majority ownership outside the exchange, so its market capitalization represented the value implied for the entire company, not merely the shares available to public investors.
The company is Saudi Arabia’s national oil and gas enterprise. Its shares trade on Tadawul under the symbol 2222. Apple later became the first company to close above $2 trillion, while Saudi Aramco’s valuation moved with oil prices and energy-market conditions.