Saudi Aramco became the first publicly listed company to reach about US$2 trillion in market value in December 2019.
Saudi Aramco’s shares began trading on the Saudi Stock Exchange, Tadawul, on December 11, 2019. On the second day of trading, its valuation briefly reached approximately two trillion dollars, based on the company’s share price and total shares. The initial public offering was one of the most closely watched listings in financial history.
Saudi Aramco is Saudi Arabia’s national oil company and one of the world’s largest integrated energy businesses. Its operations span crude-oil production, refining, chemicals, pipelines, and distribution. The listing sold only a portion of the company, leaving the Saudi government as the dominant shareholder.
The valuation was controversial because oil prices, production capacity, reserves, and political risk all influence how investors assess the company. Apple later became the company most commonly associated with the two-trillion-dollar milestone in global technology markets.