Amazon's Stock Value Has Crossed $1 Trillion, Joining Apple

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Just 10 months later, on August 30, Amazon shares hit $2,000 for the first time, just $50 per share away from giving the company a $1 trillion market value. And Bezos's fortune has been skyrocketing as Amazon shares have soared in 2018: Through most of the year thus far, Bezos's net worth has been increasing at an average of roughly $260 million per day.

Amazon's shares last traded up 1.4 percent at $2,041.68.

Early gains lifted Amazon's value to US$1 trillion only briefly, with the final close at US$2,039.51 giving it a value of US$995 billion.

On Tuesday, Amazon became the second US company to reach a market value of $1 trillion.

Amazon is now not only synonymous with online shopping, but is also opening physical stores, owns the Whole Foods grocery franchise and runs a massively lucrative cloud-services business.

Even more telling is Amazon's size when compared to the entire national stock markets of other countries.

Amazon shareholders have already had a extraordinarily good year. Meanwhile, Amazon is reportedly beefing up its digital advertising business to better compete in an online ad market dominated by Google and Facebook. It's now a diversified global enterprise with more than $200 billion in annual sales and more than 575,000 employees.

The Seattle-based company has cemented customer loyalty through smart devices like Alexa and the Prime membership program that offers fast, free shipping as well as music and video streaming perks.

"What Amazon means is disruption and people don't like to be disrupted". The riches have largely come through his ownership of 16.3% of Amazon's outstanding stock. The Post has said that Bezos plays no role in editorial decisions.

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