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050.27 to cross the trillion-dollar threshold

Time:2018-09-12 08:00Shoes websites Click:

Amazon HITS trillion Valuation

Amazon Hits $1 Trillion Valuation

Phil Peters

For context, the entire United States stock market - the sum of all publicly traded American companies, including Amazon - hit $30 trillion in January. The online retail behemoth's stock hit a new high of $2,049.50 per share around 11:30 a.m., Eastern time this morning, momentarily nudging its market cap over the trillion-dollar line. Apple topped that mark in early August. And Bezos's fortune has been skyrocketing as Amazon shares have soared in 2018: Through most of the year thus far, Bezos's net worth has been increasing at an average of roughly $260 million per day. This made it hard to determine the company's actual value. It's book value is now greater than that of every stock listed in all but 13 countries, including those of Taiwan, Spain, and Italy, according to the CIA's World Factbook. It needed to reach $2,050.27 to cross the trillion-dollar threshold, based on the count of 487,741,189 shares from Amazon's most recent quarterly report in July.

It's an accomplishment for Chief Executive Officer Jeff Bezos, who is the world's wealthiest person.

After the internet shopping giant surged past that $1 trillion mark, today, experts are saying it could even be bigger than the makers of the iPhone. For instance, Amazon Web Services, a unit that provides hosting and cloud computing for other businesses, brought in $20 billion in revenue in 2017.

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Bezos is also almost $70 billion richer than the second wealthiest person on the planet, Bill Gates - whose net worth has been around $98 billion lately.

He owns over 16 per cent of Amazon which he founded in a garage in Seattle in 1994.

"We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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