Amazon reaches market value of $1 trillion

Jeff Bezos has long been one of the wealthiest people in the world. Now, the company he founded is also one of the world's most valuable.

Amazon became the second U.S company to reach a market cap of $1 trillion today, crossing the milestone when the stock price reached $2,050.27 per share this morning. The stock has been rocky since, closing at a price of $2,039.51 per share.

Amazon had been racing Apple to become the first U.S. company to reach a $1 trillion market value through most of the yearApple surpassed a $1 trillion market value on Aug. 2 — just five weeks ago. Notably, each company has employed very different strategies and business models to get to this point.  Read more...