Saudi Aramco was the first publicly traded firm to surpass a $2 trillion market value in 2019.
Saudi Aramco passed the $2 trillion valuation on December 12, 2019, its second day of trading on the Saudi Stock Exchange. Its shares reached the exchange’s daily limit, giving the company an intraday value near $2 trillion. The company’s initial public offering had priced it at approximately $1.7 trillion.
The valuation was supported by Saudi Aramco’s enormous oil production, reserves, and strategic importance to Saudi Arabia. The company was created from the former Arabian American Oil Company and became fully state-owned in 1980.
Apple also reached $2 trillion, but it did so later, in 2020. The comparison can cause confusion because market capitalization records depend on timing and methodology. Intraday values use the highest share price during a session, while closing values use the final official price. Both are different from enterprise value, which also considers debt and cash.