Amazon becomes second US public company to hit $1 trillion mark after Apple
Online shopping and video-streaming giant Amazon became the second US Public company to hit the $1 trillion valuation mark after smartphone company. Last month, Apple became the first US company to become a $1 trillion company. According to a report in CBS News, Amazon shares hit $2,050.49 -- climbing 1.5 per cent in the morning trade -- bringing the company's market value above $1 trillion.
Amazon Founder Jeff Bezos is already the richest person on Earth, with a net worth surpassing $150 billion. He owns over 16 per cent of Amazon which he founded in a garage in Seattle in 1994.
Apple became the first $1 trillion company last month. The Cupertino-based iPhone-maker is currently worth about $1.1 trillion. Google's parent company Alphabet Inc and Microsoft are fast approaching the $900 billion mark, reports said.
Facebook -- which crossed $500 billion in 2017 -- is not growing much owing to a massive data privacy scandal amid falling user base.
(With IANS Inputs)
