Amazon Follows Behind Apple, Hits $1 Trillion Mark
Well, that didn't take long.
Tue Sep 04 2018 18:00:00 GMT+0000 (Coordinated Universal Time)
About 4 works after Apple became the first American company to hit the $1 trillion valuation mark, Amazon decided they didn't like being left out of the spotlight and accomplished the same thing.
Amazon has added more than $435 billion to their market cap in 2018 and is now worth more than Walmart, Target, and Costco...combined. That's wild. Considering Jeff Bezos owns about 16% of Amazon, this new valuation puts his net worth around $166 billion -- about $70 billion more than Bill Gates.
Amazon has come a long way from selling books online, that's for sure. They now account for roughly half of all American dollars spent online.
If you invested $1,000 in Amazon when it first went public in 1997 you'd be a millionaire right now.