Saudi Aramco became the first publicly listed company to reach a $2 trillion valuation in 2019.
The Saudi Arabian Oil Company began trading on the Saudi Exchange in December 2019 after an initial public offering. Its shares initially rose enough for the company’s market value to reach approximately $2 trillion, a target long associated with the planned listing.
Saudi Aramco is Saudi Arabia’s national oil company and one of the largest integrated energy companies in the world. It operates major oil and gas production, refining, chemicals, and distribution businesses.
The company’s valuation is especially sensitive to oil prices, production expectations, and government policy. A common confusion is treating the IPO value as a permanent figure; market capitalization changes whenever the share price changes, and the company’s valuation later moved below the initial milestone.