Amazon becomes second $1 trillion company in US

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 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.

--IANS

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