According to CNN, The company’s total market value passed $1 trillion on Tuesday after its stock reached $2,050.50, double of what it was last year.
With CEO Jeff Bezos, who is now the richest person in the world with a net worth of an estimated $166 billion, Amazon has emerged as the most powerful force in the e-commerce business, capturing roughly 50% of the online retail market, according to eMarketer.
At the beginning of 2018, the company was worth just $580 billion. In the second quarter, the company’s net income ballooned to $2.5 billion, compared to $197 million in the second quarter of 2017.
