Saudi Aramco’s market capitalization first exceeded $2 trillion in December 2019.
Saudi Aramco reached the level shortly after its shares began trading on Tadawul following the company’s initial public offering. On its second trading day, the company’s valuation rose above $2 trillion, according to widely reported market-cap calculations.
The event was significant because Saudi Aramco was the world’s largest oil company by production and reserves and had become the largest company ever to conduct an initial public offering at that time. Its listing gave public investors direct exposure to a business central to Saudi Arabia’s economy.
Apple later became the first technology company to pass $2 trillion, in 2020. The distinction between the two milestones depends on chronology and on whether a source uses intraday or closing market values.