Amazon became the second company worth $1 trillion on Tuesday morning, hitting the milestone one month after Apple became the first company to do so.
Early trading pushed Amazon past the $2,050.27 per share mark it needed to hit a $1 trillion valuation. Shares dipped slightly afterwards, but were still up about 1 percent on the day. Just this year so far, Amazon’s shares have surged by more than 70 percent in 2018. The company’s success has made CEO Jeff Bezos the richest man in the world by far, with a net worth of about $150 billion. In July, Amazon reported $52.9 billion in revenue during the second quarter, along with a record $2.5 billion in profit. Part of the reason for it’s success is said to be that Amazon has morphed into a powerhouse on several fronts, from entertainment to cloud services to advertising.
Editorial credit: Eric Broder Van Dyke / Shutterstock.com
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