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Amazon now world s third-most valuable company

Thursday - February 15, 2018 9:46 am , Category : BUSINESS
 Amazon now world s third-most valuable company
Amazon now world s third-most valuable company

San Francisco Feb 15 (IANS) 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 per cent 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.

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 Xinhua news agency reported.

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.

--IANS
na/in

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