TIL Desk/Business/New York/ 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, 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.
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