Amazon’s market value has surged considerably over the past couple of years which has not only made it one of the most valuable companies on the planet, it has also made its founder and CEO Jeff Bezos the richest person on the planet. Amazon has now passed Google, rather its parent company Alphabet, to become the second most valuable company in the United States.
This is a significant change as Google’s second position, next only to Apple that’s valued at over $889 billion, had been secure for over two years now. As of the closing bell yesterday, Alphabet’s market cap declined to $761 billion while Amazon’s surged to $768 billion. While Amazon’s stock bounced back yesterday, Alphabet’s shares fell for the third straight day.
The surging market cap has also bolstered the net worth of Jeff Bezos. He is now certifiably ahead of any other person on the planet with an estimated net worth of $130 billion. Amazon is certainly in no mood to slow down anytime soon so we can expect the company to keep pushing forward with its growth objectives. This will lead investors to further increase their trust and investments in the company.
Alphabet now sits in third place on the list of most valuable companies in the United States. It’s ahead of Microsoft which is valued at around $720 billion.
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