Jeff Bezos has long been one of the wealthiest people in the world. Now, the company he founded is also one of the world’s most valuable.
Amazon became the second U.S company to reach a market cap of $1 trillion today.
Amazon had been racing Apple to become the first U.S. company to reach a $1 trillion market value through most of the year. Apple surpassed a $1 Trillion market value just five weeks ago. Notably, each company has employed very different strategies and business models to get to this point.
The trillion-dollar milestone comes just 50 days after Amazon set a new record during its own annual sales event, Amazon Prime Day, with over 100 million products sold. That event also pushed Amazon market value to almost $1 Trillion.
The climb to a $1 trillion has been a long and winding road for Amazon, and although the company may have lost to Apple in the race to this important milestone, we suspect that the company will still have plenty to celebrate in the near future.