Suadi Aramco who surpassed Apple and its relationship with sports

The oil giant “Saudi Aramco” surpassed the American company “Apple”, as the most valuable company in the world.

According to the website FactSet – which converted its market value into dollars – the valuation of the national hydrocarbon company of Saudi Arabia on Wednesday (11/5) was just under 2.430 billion dollars, while that of Apple stopped at 2.410 billion.

Saudi Aramco, according to the Italian specialized website calcioefinanza, is also active in the world of sports, with several sponsorship agreements.

Due to its links with the PIF (Public Investment Fund), it has been discussed in the recent past as a possible sponsor of Newcastle jersey, but this was not allowed by the new Premier League rules regarding companies owned by the club.

Also in 2020, Saudi Aramco “landed” in Formula 1, signing the “first world sponsorship of a sporting event”, as he characteristically stated.

Also note the collaboration between Aramco and the Aston Martin Cognizant Formula One Team, signed in 2022 for the development of high-performance internal combustion engines, high-performance sustainable fuels, advanced lubricants and the use of non-metallic materials in vehicles.

In addition, the partnership includes group sponsorship rights, as well as exclusive brand rights to Aramco fuels and lubricants. That’s why the team name became Aston Martin Aramco Cognizant Formula One Team.

Aramco was also one step away from agreeing with Valentino Rossi on his team’s Moto GP debut in 2022. In fact, an agreement had been reached on the birth of the Aramco Racing Team VR46, an agreement that was never completed due to time constraints. .