Saudi Aramco became an official FIFA partner in 2023, and its branding appears prominently at FIFA World Cup 2026. This is significant for multiple reasons — Aramco is not only the world’s most profitable company by a huge margin, but it’s also a Saudi state oil company whose FIFA sponsorship signals Saudi Arabia’s broader push into global sports sponsorship (alongside LIV Golf, the PGA Tour deal, and Saudi football clubs signing global stars). Here’s who owns Saudi Aramco and how it became a FIFA partner.
| Full Name | Saudi Arabian Oil Company (Saudi Aramco) |
| Founded | 1933 (as California-Arabian Standard Oil Co.) |
| Headquarters | Dhahran, Saudi Arabia |
| CEO | Amin H. Nasser |
| Listed On | Saudi Exchange (Tadawul: 2222); partial IPO 2019 |
| Largest Shareholder | Saudi Government (PIF / Ministry of Finance) ~98.5% |
| Profitability | World’s most profitable company; ~$120–160B annual net profit |
| FIFA Partnership | Official FIFA Partner from 2023 |
Who Owns Saudi Aramco?
Saudi Aramco is overwhelmingly owned by the Saudi Arabian Government. The Saudi government holds approximately 98.5% of Aramco’s shares through direct holdings and via the Public Investment Fund (PIF) — Saudi Arabia’s sovereign wealth fund. A partial IPO in December 2019 on the Tadawul (Saudi Stock Exchange) sold approximately 1.5% of shares to institutional and retail investors, making it the world’s largest IPO at the time, raising ~$25.6 billion. A secondary share sale in 2024 raised an additional $11.2 billion. Despite these share sales, the Saudi government retains near-total control. The effective strategic controller of Aramco is Crown Prince Mohammed bin Salman (MBS) who, as Chairman of Saudi Aramco’s board (through his role in Saudi government leadership), directs the company’s strategy. CEO Amin H. Nasser has led the company operationally since 2015. Aramco’s profits are extraordinary — the company generated net income of over $120 billion in recent years, more than Apple, and is the world’s most profitable company by a large margin. For FIFA context, see also who owns Qatar Airways (fellow state-owned FIFA partner). Aramco’s investor relations at aramco.com.
| Shareholder | Type | Approximate Stake |
|---|---|---|
| Saudi Government (direct + via PIF) | State controlling shareholder | ~98.5% |
| Institutional investors (post-IPO) | Public float | ~1% |
| Retail investors (Tadawul) | Public float | ~0.5% |
Who is the CEO of Saudi Aramco?
Amin H. Nasser has been the President and CEO of Saudi Aramco since 2015. He is a Saudi national and petroleum engineer who joined Aramco in 1982 and rose through the company’s exploration and production operations. Nasser has pushed back publicly against “peak oil demand” narratives, arguing that the world will need oil for decades to come and that Aramco should invest in increasing production capacity rather than winding down. Under his leadership, Aramco made a series of major acquisitions including Sabic (Saudi Basic Industries Corporation) for $69.1 billion in 2020.
Is Saudi Aramco Publicly Listed?
Yes, partially. Saudi Aramco completed its IPO on the Tadawul (Saudi Stock Exchange) in December 2019, listing approximately 1.5% of its shares. A secondary offering followed in 2024. However, with ~98.5% remaining in Saudi government hands, Aramco is far from a conventionally publicly traded company in the sense of dispersed ownership. The Tadawul listing gives it a market capitalisation benchmark — which has at times exceeded $2 trillion, making it the world’s most valuable company by market cap.
Aramco and FIFA World Cup 2026
Saudi Aramco became an official FIFA partner in 2023 — a deal widely seen as part of Saudi Arabia’s “sportswashing” soft power strategy alongside Saudi PIF’s acquisition of Newcastle United FC, LIV Golf’s creation, the PGA Tour merger discussions, Cristiano Ronaldo’s move to Al Nassr, and Neymar’s move to Al Hilal. For FIFA World Cup 2026, Aramco branding is on pitch-side LED boards globally and in broadcast coverage. This is Aramco’s first FIFA World Cup activation. The sponsorship is controversial — several environmental and human rights groups have criticized FIFA for accepting Aramco’s money given the company’s role in fossil fuel production and Saudi Arabia’s human rights record. Nonetheless, Aramco’s FIFA deal was announced and is active for 2026.
Key Milestones
| Year | Milestone |
|---|---|
| 1933 | California-Arabian Standard Oil Company (CASOC) founded |
| 1950 | Renamed Arabian American Oil Company (Aramco) |
| 1980 | Saudi government acquires 100% ownership; becomes Saudi Aramco |
| 2015 | Amin H. Nasser becomes CEO |
| 2019 | IPO on Tadawul; world’s largest IPO at $25.6 billion raised |
| 2020 | Acquires SABIC for $69.1 billion |
| 2023 | Becomes official FIFA partner |
| 2026 | First FIFA World Cup activation in USA, Canada, Mexico |
My Take on Aramco’s FIFA Sponsorship
Saudi Aramco’s FIFA partnership is the most debated sports sponsorship deal in recent memory. The criticism is real: Aramco is the world’s single largest corporate carbon emitter, and FIFA sponsorship gives it global brand visibility that arguably helps normalise the fossil fuel industry at a time when climate science demands rapid transition away from oil. On the other side, FIFA is a commercial organisation that needs funding, and Aramco’s money is real. The “sportswashing” critique is more compelling when applied to Saudi government itself (the execution of dissidents, the war in Yemen, restrictions on women’s rights) than specifically to Aramco — the company is just an oil business doing what oil businesses do. But Aramco is the Saudi government’s financial engine, so the distinction is thin. What’s undeniable is that it’s working: in many global markets, “Aramco” is now a recognisable brand rather than an obscure state oil company. That’s exactly what the Saudi government wants.
Frequently Asked Questions
Who owns Saudi Aramco?
The Saudi Arabian Government owns approximately 98.5% of Aramco through direct holdings and the Public Investment Fund (PIF); a 1.5% IPO was listed on Tadawul in 2019.
Is Saudi Aramco publicly traded?
Partially — Aramco listed ~1.5% of shares on the Tadawul (Saudi Stock Exchange) in December 2019, but the Saudi government retains near-total control with 98.5% ownership.
Who is the CEO of Saudi Aramco?
Amin H. Nasser has been President and CEO since 2015; he is a Saudi petroleum engineer who joined Aramco in 1982 and rose through exploration and production operations.
When did Aramco become a FIFA partner?
Saudi Aramco became an official FIFA partner in 2023 and is now activating at FIFA World Cup 2026 with pitch-side LED branding in the USA, Canada, and Mexico.
Why is Aramco’s FIFA sponsorship controversial?
Environmental and human rights groups have criticized FIFA for accepting Aramco’s sponsorship given the company’s role as the world’s largest corporate carbon emitter and Saudi Arabia’s human rights record.