Saudi Aramco became the first listed company to reach a $2 trillion valuation in December 2019.
Saudi Aramco’s shares began trading on the Saudi Stock Exchange, known as Tadawul, on December 11, 2019. The initial public offering valued the company at about $1.7 trillion, and a rise in the share price soon pushed its market value above $2 trillion.
The company is formally known as Saudi Arabian Oil Company and is majority-owned by the Saudi Arabian government. It operates across oil exploration, production, refining, chemicals, and energy-related activities.
The milestone is distinct from Apple’s earlier achievement. Apple was the first public company to reach $1 trillion and later $2 trillion in market capitalization, while Saudi Aramco became the first listed company to trade above a $2 trillion valuation after its IPO.