Amazon announced as world's third-most valuable company

Arnima Dwivedi

Arnima DwivediBy Arnima Dwivedi

Published on 15 Feb 2018 5:53 AM GMT

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San Francisco: 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.

Also Read: Market Update: Key Indian equity market indices open higher

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

Arnima Dwivedi

Arnima Dwivedi

A journalist, presently working as a sub-editor with newstrack.com. I love exploring new genres of humans and humanity.

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