For the first time in history,Amazon’s market cap reached 1trillion dollars on Tuesday making Jeff Bezoz 1.8 billion dollars richer than he was in February when he was named richest man alive.
Mr Bezoz took Bill Gates’ spot on Forbes’ list and is the only person worth more than 100 billion dollars today.His income doubled from 81 billion dollars in 2017 to 167 billion dollars in 2018.
Amazon’s shares have also grown by 98,000 percent in the past 21 years since its inception.This is because of Amazon’s ability to shape-shift into other businesses while still staying true to its core mission.
At the beginning of 2018 the company was worth just $580 billion. In the second quarter, the company’s net income jumped to $2.5 billion, compared to $197 million in second quarter of 2017.