Beginning last August, Apple was listed as the first technology company to reach a market value of 1 trillion US dollars. This week, Amazon's turn made a similar achievement.
Amazon's valuation exceeded that figure in trading on Tuesday (4/9/2018) yesterday, when its share price rose to 2,050.50 US dollars per share. However, the price was then corrected again, and at the end of trading was at 2,039.51 US dollars.
Thus, Amazon's valuation back down below the threshold of 1 trillion US dollars. Amazon stock prices have jumped by 75 percent since January this year. At that time Amazon's valuation was recorded at 565 billion US dollars.
Also read : Apple becomes world's first $ 1 trillion company
Amazon's stock price increase helped boost the wealth of CEO and founder, Jeff Bezos, who is now the richest person in the world with a wealth of 166 billion US dollars.
Bezos is the largest shareholder in Amazon. Until August 2018, he still controlled 78.88 million shares of the company. Starting his life as an online book seller in 1994, Amazon has now become an online trading giant that controls 49 percent of e-commerce money circulation in the United States.
Amazon employs more than 550,000 employees and generates annual revenues in the range of 178 billion US dollars. Amazon has now expanded into participating in the cloud business through Amazon Web Services, advertisements, and gadgets through a series of tablet products and smart speakers.
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