Saudi Aramco briefly became the first publicly traded company valued above $2 trillion.
The Saudi Arabian Oil Company, commonly called Saudi Aramco, reached the milestone in December 2019, shortly after its initial public offering on the Saudi Stock Exchange. Its shares rose enough for the company’s market capitalization to pass $2 trillion during early trading.
Saudi Aramco’s enormous valuation reflects its ownership of some of the world’s largest oil reserves, its high crude production capacity, and its strategic importance to Saudi Arabia. The company was partially listed, while the Saudi government retained majority ownership.
The $2 trillion figure was not permanently maintained at that level. Market capitalization moves with share prices, and oil prices, production expectations, interest rates, and investor sentiment all affect energy-company valuations.