Saudi Aramco was the first company to reach a US$2 trillion market capitalization after its 2019 public listing.
Saudi Aramco’s shares began trading on the Saudi Exchange in December 2019. On its second trading day, the company’s valuation reached approximately US$2 trillion, briefly matching the target set by Saudi Crown Prince Mohammed bin Salman before the listing.
The company is Saudi Arabia’s state-controlled oil producer and is officially known as Saudi Arabian Oil Company. Its enormous reserves and oil-production capacity made it one of the world’s most valuable businesses even before the flotation.
Apple was the first company overall to reach US$2 trillion, doing so in 2020. Saudi Aramco’s distinction is tied to its unusually large initial public offering and its status as the world’s most valuable listed energy company at the time.