Saudi Aramco was the first company to reach a $2 trillion market capitalization during its first days as a public company.
After Saudi Aramco began trading on December 11, 2019, its shares rose to the maximum daily increase permitted on the Saudi Stock Exchange. On the second trading day, the company briefly reached a valuation of about $2 trillion.
The milestone followed an IPO that initially valued the company at approximately $1.7 trillion. The offering was closely watched because Saudi Aramco is central to the country’s petroleum industry and because its listing represented a major step in plans to broaden Saudi Arabia’s economy.
This achievement is different from Apple’s later $2 trillion milestone. Saudi Aramco reached $2 trillion first as a newly listed energy company, while Apple’s 2020 crossing became a landmark for a U.S.-listed technology company. Exact valuations can vary slightly with share-price movements and share-count calculations.