Saudi Aramco was the first company to exceed a $1 trillion market capitalization after its 2019 stock-market listing.
Saudi Aramco began trading on the Saudi Exchange in December 2019. On its first trading day, the state-controlled oil company reached a valuation above $1 trillion, making it one of the largest public companies in the world immediately after its initial public offering.
The company is Saudi Arabia’s national oil company and traces its corporate history to the discovery and development of petroleum resources in the kingdom. Its business includes oil and gas exploration, production, refining, chemicals, and distribution.
Apple had already become the first U.S.-listed company to reach $1 trillion in 2018. Saudi Aramco’s achievement is a separate milestone tied to its public listing and the market’s valuation of an energy producer rather than a consumer-technology company.