Amazon Joins The Trillion Dollar Club

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 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.

Also Read: Amazon Founder Jeff Bezos Replaces Bill Gates As World’s Richest Man

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)