Amazon Tops Trillion-Dollar Market Cap, Bezos Extends Lead As World’s Richest Man

Jeff Bezos was already the richest man in world history, but thanks to the surge in Amazon’s share price today – becoming the third company in history to top $1 trillion market capitalization (after Apple and PetroChina) – his net worth is up almost $70 billion in 2018, nearing $170 billion.

After a brief dip on its earnings, Amazon has not looked back, surging above the key $2050.27 briefly ($2050.50 highs) to become another trillion-dollar market cap company…

Amazon reached this milestone almost exactly one month after Apple. Next up – Microsoft or Alphabet?

Do not worry though – Amazon is not a bubble!

Interestingly, few remember that Apple was not the first company globally to ever hit $1 trillion in market capitalization.

The feat was achieved momentarily by PetroChina in 2007, after a successful debut on the Shanghai Stock Exchange that same year.

And as we noted previously, the $800 billion loss it experienced shortly after is also the largest the world has ever seen.

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This pushes Bezos’ dominance of the global wealth leagues even higher…

Source: ZeroHedge