Saudi Aramco was the first listed firm to surpass a US$2 trillion market capitalization.
Saudi Aramco crossed the US$2 trillion valuation level in December 2019, shortly after its shares began trading on the Saudi Stock Exchange, known as Tadawul. The initial public offering was one of the largest ever conducted and made the state-controlled oil producer the world’s most valuable listed company at that time.
The company traces its origins to an oil concession granted in Saudi Arabia in 1933. Its production, reserves, refining operations, and petroleum exports made it one of the most strategically important energy businesses in the world. Saudi Aramco’s shares were first offered locally rather than through a broad international listing.
Market capitalization changes with the share price, so the US$2 trillion milestone is not a permanent ranking. It also should not be confused with the value of Saudi Arabia’s total oil reserves or the company’s annual revenue.