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Amazon joins Apple in climb to US$1t market value
[SEATTLE] Amazon.com Inc shares rose as much as 1.9 per cent, pushing the company briefly beyond a market value of US$1 trillion, a milestone Apple Inc reached last month.
It's an accomplishment for Chief Executive Officer 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 Inc and Microsoft Corp 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 US$200 billion in annual sales and more than 575,000 employees.