Amazon.com Inc. shares rose as much as 1.9% today, pushing the company briefly beyond a market value of $1 trillion, a milestone Apple Inc. reached last month.
It’s an accomplishment for CEO Jeff Bezos, who is the world’s wealthiest person. Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years. Tech competitors Google parent Alphabet Inc. and Microsoft Corp. are closing in on the mark, too.
Bezos founded the company in his Seattle garage as a small online book seller. It’s now a diversified global enterprise with more than $200 billion in annual sales and more than 575,000 employees.
Apple is No. 2 in the Internet Retailer 2018 Top 1000 and Microsoft is No. 98.
Amazon reported a record second-quarter profit of $2.53 billion.