Amazon Inc. (NASDAQ: AMZN) has surpassed tech giant Microsoft (NASDAQ: MSFT), to take the top spot as most valuable listed company. Amazon, the online retailer ended trading up 3.4% on Monday valued at $797 billion USD, surpassing Microsoft who closed trading at $789 billion USD.

Jeff Bezos, founder of Amazon, boasts riches of $135 billion USD according to Bloomberg’s Billionaire index, Overtaking Microsoft’s Bill Gates last year to become the world’s wealthiest man.

This is the first time in history that Amazon has held the number one spot. With the share price of Tech giants bouncing up and down in recent months, due to worries about trade tensions and sales.

Amazon was founded in 1994 by Jeff Bezos, starting its life as a second hand book seller from a garage in Seattle. Amazon has quickly become a household name in online retail, covering a plethora of items from fresh fruit and vegetables to clothes and electronics. Originally named “Cadabra” selling its first book in 1995, Amazon moved quickly into the online market and by the end of 1996 they held the online market for books throughout the US. This early success led Mr. Bezos to think bigger, and decided to float Amazon on the stock exchange in 1997.

For the First decade since its inception, Amazon focused on growth rather than profit, investing heavily into building networks of distributors, warehouses, and data systems. In 2017 expanding into the delivered fresh foods sector, Snatching up whole foods market for $13.7 Billion USD which gave Amazon a huge network of physical stores for the first time. Along with their move into fresh food, Amazon have made headway into the entertainment sector, with their Amazon Prime service, and original content. Utilizing their movement into the entertainment sector, Amazon has gained the rights to broadcast live sports, including the popular Premier League and ATP Tennis.

Amazon, who clearly haven’t forgotten their roots, are also behind the bestselling Kindle e-Reader, which to this day is the leader of e-book hardware on the market. But not forgetting Amazons latest addition to their technology tree, everyone’s house favorite, Alexa, which is expected to be in 1 in 6 American households by 2022.

Investors have seen a lot of volatility in the tech sector over the last few months. In August Apple beat Amazon to become the world’s first public company to be worth $1 trillion USD, with Amazon following in September. However since Apple’s press release about a slowdown in china, the technology powerhouse is now valued at $702 Billion USD.

2019 is looking to be a great year for Amazon, and we are sure to see some more innovative products hitting shelves within the next quarter. Amazon will be one to watch now they Are number one, we don’t think they will give up their crown easily.

Micheal Anderson- Middleton Associates

Published by Sister wives