E-commerce giant Amazon became the second US company after Apple to surpass $800 billion market capitalisation mark on Monday. According to reports, Amazon’s market value now stands at $808 billion and the company's largest shareholder and CEO, Jeff Bezos has a net worth of $138 billion. Reportedly, Amazon hit the $700 billion mark last January.
It is inching closer to the top valued US company, Apple which currently has an m-cap of $944 billion. In fact, a year back, Apple too hit the $800 billion mark and soon emerged to the number 1 spot in terms of the market cap. According to a report on FastCompany, Alphabet also hit the 800 billion market cap earlier this year, but its stock fell immediately, and now it stands at $793 billion.
Looking at the pace in which Amazon is growing, all eyes will be on the giant to see if it can manage to topple Apple as the most valuable company in the world.
(The above story first appeared on LatestLY on Jun 06, 2018 12:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).