Jeff Bezos earns $6B as Amazon hits $2 Trillion market value
Amazon logo icon with portrait of Jeff Bezos on background (Shutterstock)
ALBAWABA - Amazon.com, Inc. has achieved a market value of $2 trillion for the very first time in its history. This achievement was made possible by a rally that was powered by artificial intelligence, which propelled the tech giant farther into record territory.
The founder and chairman of Amazon, Jeff Bezos, had his net worth grow by about $6 billion on Wednesday, making him the richest person in the planet, according to a Forbes estimate, making his approximate net worth $209 billion, placing him second in the world.
With its shares closing 3.9% higher at $193.61 on Wednesday, according to CNBC, Amazon's market capitalization surpassed $2 trillion for the first time in the company’s history, joining the ranks of top listers Nvidia, Apple, and Microsoft.
Amazon’s shares have enjoyed a 27.5 percent increase this year, releasing first-quarter results in April of last year, which demonstrated that its Amazon Web Services division was still recovering from an earlier downturn brought on by companies cutting down on their cloud spending.
Shares of the technology corporation have increased over the course of the last year as a result of the company's efforts to reduce expenses, massive layoff streaks and reorganizing its operations in order to better capitalize on the artificial intelligence (AI) craze.
Provided by SyndiGate Media Inc. (Syndigate.info).