Amazon joins Apple in the trillion-dollar club

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For added reference, the company's stock reached $1,000 in October of 2017, and broke $100 in October of 2009.

Just a few weeks after Apple became the world's $1 trillion company, Amazon became the second to reach the historic marker: On Tuesday, as Amazon stock inched higher, the company's market capitalization briefly rose over $1 trillion.

Wall Street has grown very enthusiastic about Amazon's non-retail businesses, the Associated Press reports.

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Interestingly, as The Verge points out, Amazon is only the third company internationally to hit a $1 trillion market cap. The online retail behemoth's stock hit a new high of $2,049.50 per share around 11:30 a.m., Eastern time this morning, momentarily nudging its market cap over the trillion-dollar line.

Amazon's shares debuted at $18 on May 15, 1997.

Such astronomical growth from a small, Seattle book seller to one of the world's biggest companies, has made its founder and chief executive, Jeff Bezos, easily the richest person in the world.

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At the close of the stock market on Friday, Jeff Bezos's net worth was estimated at $166 billion by the other major billionaire wealth tracker, the Bloomberg Billionaires Index. Amazon Web Services provides cloud computing services to companies and government, and Amazon's advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site. Bezos brought home an annual salary of $81,840 in 2017, according to regulatory filings.

"We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".

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