Surpassing Microsoft as the world’s most valuable public company, Amazon has been named as the most valuable publicly-traded company in the US with a market value of $796.8bn.
There's a new king at the top of the American corporate heap. https://t.co/IHP2LEV51A
— The Associated Press (@AP) January 8, 2019
Microsoft closed up 0.1 per cent on Monday with a market capitalization of $783bn.
It is the first time that Jeff Bezos’ Amazon has held the top spot. Bezos is the world’s wealthiest man with riches of $135bn, according to Bloomberg’s billionaire index.
Founded in 1994, Amazon started life as a niche second-hand bookseller and has become an online retailer of items ranging from fresh food to clothes.
Amazon is now the most valuable company in the world:
Amazon: $797 billion
Microsoft: $789 billion
Google: $745 billion
Apple: $702 billion
Berkshire Hathaway: $485 billion
— Jon Erlichman (@JonErlichman) January 7, 2019