Amazon No.1 Company in the world

Amazon, the online giant was worth $797bn (£634bn) when the US stock market closed on Monday after rising 3.4 per cent  and moved past Microsoft valued at $789bn. Jeff Bezos, the founder of Amazon, is the world’s wealthiest man, with riches of  $135 bn according the latest Bloomberg’s billionaire index. Amazon started in 1994, in a garage in a suburb of Seattle, Washington, as a niche second-hand book seller and has become an online retailer of items ranging from fresh food to fashion clothes. It was originally called “Cadabra” and in 1995 sold its first book –Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought by Douglas Hofstadter.

IN 1997, the business was floated on the stock exchange raising $54m which enabled Bezos to join the ranks of the world’s richest business people before he turned 35 years of age. In 2017, Amazon paid $13.7bn for Whole Foods Market, which brought it a large network of physical stores for the first time and also emerged as a major creator of original entertainment content producing original drama series. The firm developed the Kindle e-reader and Alexa virtual assistant. Amazon touched the $1trillion summit briefly in September. Apple reached its historic valuation peak of $1.1 trillion in October. The Big Four are already pushing each other around in share market place, as they won’t all stay on top.