Amazon Just Joined Apple in Elite Club

It's the second trillion-dollar company
By Evann Gastaldo,  Newser Staff
Posted Sep 4, 2018 11:17 AM CDT
Amazon Just Joined Apple in Elite Club
Amazon CEO Jeff Bezos.   (AP Photo/Ted S. Warren, File)

Less than a month after Apple became the first US company to reach a valuation of $1 trillion, Amazon has become the second. Shares gained 2% to hit a record high of $2,050.27 Tuesday, and with nearly 488 million shares outstanding, that puts the 24-year-old company’s value above the trillion-dollar mark, Business Insider reports. Founder and CEO Jeff Bezos is worth about $166 billion, making him the world’s richest person. The Wall Street Journal notes that it took Amazon only 165 trading days to hit the milestone after reaching $600 billion in January. (Read more stories.)

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