Saudi Aramco was the first publicly traded company outside the United States to reach a $2 trillion valuation.
Saudi Aramco reached approximately $2 trillion in market capitalization during its early trading period after listing on the Saudi Exchange in December 2019. The valuation reflected the company’s enormous oil reserves, production capacity, and strategic importance to Saudi Arabia.
The company’s listing was part of Saudi Arabia’s efforts to develop its capital markets and support the economic diversification goals associated with Vision 2030. Only a small portion of Aramco was offered to public investors, while the state retained control.
The milestone is distinct from Apple’s achievement as the first publicly traded company anywhere to reach $2 trillion, which occurred in 2020. It is also distinct from an IPO record: the amount raised in a share offering is not automatically the same as the market value of the entire company.