Dubai, UAE—Saudi Aramco is the world’s largest oil producer and the world’s most profitable company. Though primarily owned by the state, the energy giant raised $29.4 billion in an Initial Public Offering in 2019. In September 2022, the market cap of Aramco ($1.99 trillion) was ahead of Microsoft ($1.77 trillion) and only behind Apple ($2.42 trillion) in terms of market capitalization. TRENDS takes a look at the development:
Saudi Aramco only behind Apple in market cap
- Technology companies have dominated the top five, with four companies being from this sector in the past 10 years.
- Though primarily owned by the state, the energy giant raised $29.4 billion in an Initial Public Offering in 2019.
Today's Headlines
The most important news stories of the day, curated by Post editors and delivered every morning.
By signing up you agree to our Terms of Use and Privacy Policy
Most Read
Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
The $480 billion creator economy revolution
UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
Saudi Industrial Production Index increases by 3.4 percent in Nov 2024
Qatar’s non-energy private sector shows strong growth in 2024
UAE’s tech industry set to achieve record growth in 2025