Amazon.com Now Worth $900 Billion
CBJ — Jeff Bezos is the richest man in the world and the company he founded in his Seattle basement in 1994 may soon be the most valuable as well.
Jeff Bezos, who has an estimated net worth of $150 billion, has seen the value of Amazon.com increase to a stock market value of $900 billion. If the company grows much more — at least on paper — it will have a greater market capitalization than the world’s largest company Apple Inc., which is currently valued at about $935 billion on Wall Street.
Bezos founded the company as an online book-selling company but over the years it expanded across the retail industry, altering how consumers buy their products.
Amazon’s stock has surged nearly 60% this year, bringing its increase to over 123,000% since it was first listed on the Nasdaq in 1997.