Saudi Aramco became the first nontechnology company to reach a $2 trillion market capitalization in 2019.
The state-owned Saudi Arabian Oil Company began trading publicly on the Saudi Exchange in December 2019 after its initial public offering. On the second day of trading, its valuation reached approximately $2 trillion, a figure that reflected both the company’s share price and its enormous number of outstanding shares.
Saudi Aramco is one of the world’s largest integrated energy companies. Its operations include crude-oil exploration and production, refining, chemicals, and distribution. The company’s scale is closely connected to Saudi Arabia’s large petroleum reserves.
The listing was historically important because it made a major energy producer one of the world’s most valuable publicly traded companies. Its market value later fluctuated with oil prices, production expectations, and broader investor sentiment.