Saudi Aramco was the first company to surpass US$2 trillion in market capitalization after becoming publicly traded.
Its shares began trading in December 2019, and the company’s valuation rose above US$2 trillion during the second day of trading. The event made Saudi Aramco the first listed company to pass that level, although the share price later moved below it.
Saudi Aramco’s enormous valuation reflected its position as one of the world’s largest oil producers, its extensive reserves, and its central role in Saudi Arabia’s economy. The company’s listing was part of a broader effort to develop Saudi financial markets and diversify the national economy.
This fact is distinct from Apple becoming the first company to close above US$2 trillion in 2020. One record concerns the first listed company to pass the level; the other concerns the first US company to achieve a later milestone under a different market context.