Amazon becomes second USA company to reach $1 trillion market value

Lindsey Wasson  Reuters

Lindsey Wasson Reuters

Later on Tuesday, Amazon's market value dipped below the trillion-dollar mark again.

The online retail giant breached the $1 trillion valuation near 1540 GMT when it's share price hit $2,050.50.

Last month, Apple became the first United States company to become a $1 trillion company.

It crossed the line at 16:40 BST before falling back slightly.

"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March of this year.

Bezos is now worth over $165 billion, well ahead of runner-up Bill Gates, whose wealth clocks in at just over $98 billion, according to Bloomberg.

According to Deadline, Amazon shares have risen more than one percent today to $2,038, "just shy of the $2,050 level that conferred the $1 trillion valuation". For added reference, the company's stock reached $1,000 in October of 2017, and broke $100 in October of 2009. It needed to reach $2,050.27 to cross the trillion-dollar threshold, based on the count of 487,741,189 shares from Amazon's most recent quarterly report in July. And even less so when it's the value of a 24-year-old company with a plethora of business units in addition to its core retail focus.

'The difference between the two is that Amazon has room to grow within its two main businesses.

Amazon - founded as an online book-retailer in Chief Executive Jeff Bezos' garage in 1994 - started trading on May 15, 1997 at $1.50 on a split-adjusted basis.

'The company continues to experiment with new products and push into new geographies.

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