Where Data Tells the Story
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This graphic puts Saudi Aramco’s $1.9 trillion market cap into perspective by comparing it to the rest of the world’s largest oil companies. All figures are as of May 24, 2024.
Saudi Aramco is the most valuable public company listed outside of the U.S.
It should be noted, however, that the Saudi government directly owns 90% of the company, while another 8% is held by the country’s sovereign wealth fund.
A Bloomberg op-ed from 2023 described Aramco’s valuation as an “illusion”, given that only 2% of shares are available to the public.