Saudi Aramco became the first publicly listed business to exceed a $2 trillion market capitalization.
Saudi Aramco is the national oil company of Saudi Arabia and one of the world's largest integrated energy companies. Its roots trace to the discovery of oil in Saudi Arabia in the 1930s, when the company was associated with the Arabian American Oil Company.
The company listed shares on the Saudi Exchange in December 2019. Its valuation briefly passed $2 trillion during trading in January 2022, making it the first listed company to reach that threshold. Market capitalization changes with share price, so the milestone does not mean the company's physical assets have a permanently fixed value.