"Aramco" Displaces "Microsoft" and becomes the 2nd Largest Company in the World

  • International
  • 27 April 2023
1

Saudi oil giant “Aramco” has removed Microsoft to become the world's second-largest company by value of $2.11 trillion (7.92 trillion riyals) after the company's stock reached the level of 36 riyals.

Apple still holds the top spot, with a market capitalization of nearly $2.6 trillion, followed by Aramco ($2.11 trillion) and Microsoft ($2.05 trillion). Saudi Aramco's rise came after Crown Prince Mohammed bin Salman announced this month that it would transfer 4 percent of its shares to Sanabil Investment Company, which is wholly owned by the Public Investment Fund.

 

Source (Al-Arabiya.net Website, Edited)

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