According to sources it was reported that 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. Presently according to report Apple tops the list with $849.2 billion market cap, followed by Google's parent company Alphabet at $745.1 billion.
Meanwhile with $521.5 billion market cap, Facebook is at the fifth spot. Further Amazon CEO Jeff Bezos is now the world's richest man, not just at present, but of all time. Accordingly 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.
Accordingly Amazon has a big early lead in this space, which is generating
plenty of excitement on Wall Street and after having started as an online
bookstore, amazon has since diversified into not just a full-fledged e-commerce
website, but also now has a presence in video streaming, software services,
kindles, consumer electronics such as smart speakers, tablets, Fire TV stick
and also its own private label Amazon Basics.
