The world is witnessing about the companies moving towards valuation in Trillion dollar. After Apple, now Amazon has got the valuation of $1tn marks lead by Jeff Bezos, the world’s richest man. founded by Bezos in Seattle in 1994.
On Tuesday, a rise in the share price of Amazon, which is listed on the Nasdaq stock exchange in the US, briefly took it above the trillion-dollar watermark for the first time.
Now, Amazon has achieved a major presence in everything from retail, to groceries, to video streaming, e-commerce and cloud services(AWS) helping it rack up revenues of $178bn (£139bn) last year. Crossing the $1tn threshold marks the latest chapter in an astonishing story of growth for the company.
- Bezos has become the world’s richest man in the process, with a net worth estimated at more than $167bn. Amazon’s chief Jeff Bezos is the first person with a net worth surpassing $150 billion in the 3 decades that Forbes has tracked the richest Americans.
- He owns 16% of e-commerce colossus Amazon, which he founded in a garage in Seattle in 1994.
- Bezos attended Princeton and worked at a hedge fund before quitting to sell books online.
- His other passion is space travel: His aerospace company, Blue Origin, is developing a reusable rocket that Bezos says will carry passengers.
- Bezos purchased The Washington Post in 2013 for $250 million. As per Forbes.
Amazon went public at $18 a share in 1997 – on Tuesday those shares hit $2,050, pushing the value of the whole company over $1tn. Amazon ended the day valued at $995bn, just short of its new record.
The company that started life selling books and CDs online has morphed into a behemoth that now makes much of its money from hosting websites such as Airbnb, Netflix and Unilever. Amazon Web Services is currently the frontrunner for a $10bn contract to provide cloud computing for the US Department of Defense. The company now appears to have targeted the healthcare market as its next big opportunity.
Amazon is currently assessing where to build a second headquarters in the US, dubbed HQ2. The massive complex is expected to add 50,000 local jobs, but the winning city also looks sure to burnish Amazon with generous tax breaks.
Amazon was offered $7bn to build its second headquarters in Newark, New Jersey, a cash-strapped city that critics say could easily find better ways of spending the money than giving it in tax breaks to one of the world’s richest companies.
Most customer-centric company (from personal experience) Apple has been really confined when it comes to services and products, Amazon has taken quite the opposite approach and has tried to acquire maximum types of businesses they could. Amazon is known for its e-commerce, but quite a few people now recognize Amazon as the owner of the Prime Video and Prime Music.
Lastly, Apple may make you wait for 2–7 days to get your iPhone replaced, but if you order one from Amazon, it delivers it to you the very next day (the same day in some cases). Amazon has mastered the art of pampering its customers with its services and support, whether its well-timed deliveries or hassle-free returns, Amazon is the choice most of us look forward to.