Amazon joins the trillion-dollar club - TechCentral

Amazon joins the trillion-dollar club

Amazon CEO Jeff Bezos

Amazon.com shares rose as much as 1.9%, pushing the company briefly beyond a market value of US$1-trillion, a milestone Apple reached just last month.

It’s an accomplishment for CEO Jeff Bezos, who is the world’s wealthiest person. Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years. Tech competitors Google parent Alphabet and Microsoft are closing in on the mark, too.

Bezos founded the company in his Seattle garage as a small online book seller. It’s now a diversified global enterprise with more than $200-billion in annual sales and more than 575 000 employees.  — Reported by Spencer Soper, (c) 2018 Bloomberg LP