Saudi Aramco became the first publicly listed company to reach a US$2 trillion market value in 2022.
Saudi Aramco briefly reached the US$2 trillion valuation threshold on May 11, 2022, as its share price rose on the Saudi Exchange. The company had listed shares in Riyadh in December 2019, in one of the world’s largest initial public offerings.
Saudi Aramco is formally the Saudi Arabian Oil Company. It is headquartered in Dhahran and is one of the world’s largest integrated energy companies, with activities spanning oil and gas production, refining, chemicals, and distribution.
The 2022 milestone is distinct from Apple’s US$2 trillion achievement in August 2020 because Apple was the first US-listed company to reach that level, while Saudi Aramco was the first publicly listed company overall to do so. Market values can move below a milestone as share prices change.