To stay and be successful in the business world, one needs to be competitive and come up with fresh ideas.
In Amazon’s latest conquest, the company has toppled Microsoft to become the third most valuable company in the world.
With a market cap of $702.5 billion, Amazon has become the third most valuable company in the world, racing past Microsoft, which has a market cap of $699.2 billion. According to a report in The New York Post, Amazon stock surged 2.6% on Wednesday, taking the company’s market cap ahead of Microsoft for the first time. Apple tops the list with $849.2 billion market cap, followed by Google’s parent company Alphabet at $745.1 billion. With $521.5 billion market cap, Facebook is at the fifth spot. Amazon CEO Jeff Bezos is now the world’s richest man, not just at present, but of all time.
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Both Bloomberg and Forbes have put Bezos on top of their billionaire lists. Bloomberg said Bezos’ net worth reached $106 billion while Forbes put it at $105 billion. The previous record was held by Microsoft founder Bill Gates with $100 billion in 1999. The majority of Bezos’ net worth comes from the 78.9 million shares of Amazon stock he owns.
The current ranking is ($ Billion):
Apple $849.2
Alphabet $746.4
Amazon $702.5
Microsoft $699.2
Facebook $521.5
Amazon is working to grab an ever-increasing share of the commerce pie, both online and in brick and mortar retail, and while Microsoft’s ever-increasing cloud focus has delighted traders, Amazon has a growing reputation for great execution in whatever area it pursues which has attracted investors despite lack of significant profits.
What should, however, be clear from the numbers that the top 4 are all pretty close to each other, making the race to be the first to a $1 trillion market cap still anyone’s game to win.
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