Amazon enters into Trillion Dollar Club

     Written by : SMTV24x7 | Wed, Sep 05, 2018, 07:58 PM

Amazon enters into Trillion Dollar Club

New York: The giant e-commerce company, Amazon on Tuesday became the second US public company after Apple to hit the $1 trillion valuation mark. 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 percent 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 percent of Amazon which he founded in a garage in Seattle in 1994.

Also Read: Amazon Founder Jeff Bezos Replaces Bill Gates As World’s Richest Man

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.