Amazon Became A $1 Trillion Company Today

It has been four weeks since Apple became the first company in the U.S. to hit a market cap of $1 trillion and now Amazon has achieved this milestone as well. The company hit the $1 trillion market cap earlier today, albeit briefly, becoming the second company to achieve this major milestone. Its share price reached an all-time high of $2050.57 this morning pushing it past the milestone.

The share price has fluctuated a bit since the moment that it pushed the market cap beyond $1 trillion. It’s currently below that milestone by a few million but it can reasonably be expected that the share price will inevitably go beyond the magic number sooner rather than later.

Amazon’s share price has been rising quite a bit these past few days. The company’s shares crossed the $2000 threshold for the first time on August 30th. Its share price has nearly doubled in the last ten months alone after they hit $1000 for the first time in October 2017.

The jump in share price has also done wonders for the net worth of Amazon founder and CEO Jeff Bezos. His net worth now hovers around $166 billion, almost double that of the $70 billion of Bill Gates, who for the longest time was considered the richest man in the world.

Adnan Farooqui
Categories: General
Tags: Amazon