Amazon becomes the second company that's worth 1 trillion dollars
3 years ago (on Sep 7, 2018)
Amazon has become the world's second company that is worth 1 trillion dollars, a few weeks after Apple reached the same milestone.
The company was founded by Jeff Bezos in 1994 in Seattle. It started with selling books and CDs online, but has rapidly expanded its business into other areas such as online retail and groceries. Notably, the company has also transformed into a technology behemoth. It now makes a lot of money from selling its technology service to other companies.
Last year Amazon earned 178 billion dollars in revenue. Its founder Jeff Bezos has now become the richest man in the world, with an estimated net worth of 167 billion dollars.
An Amazon share was worth 18 dollars in 1997. It was worth 2050 dollars on Tuesday. If you invested 1000 dollars in Amazon back in 1997, you would have over 100000 dollars now!