Aramaco is Worth More than Berkshire Hathaway, Facebook, and Amazon Combine

Matty-Sways

On its 2nd day of trading Aramco sours another 8.2% to hit a $2 trillion valuation.

Update

After rising 10% on its first day of trading the Saudi oil giant rose another 8.2%.

Crown Prince Mohammad bin Salman had been pushing to reach this mark prior to the state-owned company's IPO. The liquidation of a portion of the company was executed in order to finance his Vision 2030 plans to try and diversify the Saudi economy away from oil.

If Aramco were a country its GDP would be the eighth largest in the world. The IPO and trading thereafter raised $25.6 billion from investors. (Saudi Arabia invested $2 billion to ensure that the IPO would be successful)

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