Saudi Aramco was the first publicly traded corporation founded outside the United States to exceed $1 trillion in market value.
Saudi Aramco passed the threshold shortly after its December 2019 stock-market listing in Riyadh. Its shares rose during the first days of trading, giving the company a valuation above $2 trillion before later market movements reduced it. The listing made the state-controlled oil producer one of the most valuable public companies in the world.
The company’s scale comes from Saudi Arabia’s large petroleum reserves, extensive production infrastructure, and global refining and chemicals businesses. Its profitability and cash generation are closely connected to oil prices and energy demand.
This milestone is distinct from the broader first-$1-trillion record, which belonged to Apple in 2018. It is also distinct from a company’s enterprise value, which includes debt and subtracts cash. Market capitalization counts equity value only, based on the listed share price and shares outstanding.