Amazon has become the second company to be valued by Wall Street in a trillion dollars (trillion for us) , a matter of weeks after Apple reached the milestone first .
On Tuesday, an increase in the price of Amazon shares , which is listed on the NASDAQ stock exchange in the US. UU., For the first time he took it over the trillion dollar watermark. The value of the company remained below $ 1 trillion before noon.
Achieving the valuation marks the last chapter of an amazing growth story for the company, founded by entrepreneur Jeff Bezos in Seattle, Washington, in 1994.
Less than 25 years later, the company has garnered a strong presence in everything from retail stores to grocery stores, through video streaming, helping it accumulate revenues of $ 178 billion US dollars last year.
Bezos became the richest man in the world in the process, with an estimated net worth of more than 140 billion US dollars. Amazon went public at $ 18 per share in 1997, on Tuesday those shares reached $ 2,050, which brought the value of the entire company to more than one billion US dollars.
But with rapid growth it has received strong criticism about the attitude of the company towards taxes and workers’ rights .
Amazon had been competing with Apple to reach the historical figure for months, but lost when the stock markets responded favorably to Apple’s financial results last month .
Both companies now have a market value of more than one third the size of the UK economy and larger than the economies of Turkey and Switzerland .
While the energy company PetroChina was cited as the first trillion-dollar company in the world after its flotation in 2007, the valuation is considered unreliable because only 2% of the company was released for public negotiation.
Saudi Arabia’s national oil company , Saudi Aramco, is expected to achieve a $ 2 billion valuation through a stock market quote, but the oil-rich Gulf state would have suspended the plan .