The eCommerce Giant, Amazon has managed to reach the third position as the world’s most valuable brand simply by dethroning the tech giant Microsoft. Reports claim that Amazon recorded almost 42 percent year-on-year increase in its brand value, crunching the numbers to a mountainous $150.8 billion.
Amazon Beats Microsoft To Become The World’s 3rd Most Valuable Company
After becoming the world’s richest man last year, Amazon CEO Jeff Bezos bags another big achievement. The Microsoft lost to Amazon the rank of the third most valuable company in the United States.
On Wednesday, Jeff Bezos’s store, of course, Amazon saw its shares rise 2.6% on the stock exchange, raising the company’s market value to $702.46 billion. Meanwhile, the owner of Windows, of course, the tech giant Microsoft closed the day worth $699.22 billion.
This is the first time the giant e-commerce website Amazon has outperformed the tech giant Microsoft in market value at the stock market closing – it happened for a brief moment on February 7, but the tech giant Microsoft recovered before the end of the day.
As both companies reported better-than-expected financial results, but the giant e-commerce website, of course, Amazon shares rose more sharply since early February.
The giant e-commerce website, of course, Amazon’s growth has been reflected in the personal fortunes of CEO, Jeff Bezos, who owns 16.3 percent of the company’s shares: he became the richest person in the world in 2017, with assets valued at $118 billion, while Bill Gates, which ranked first 13 times since 2000, currently has $90.3 billion.
The ranking of the most valuable companies in the United States is led by the tech giant Apple ($849.24 billion), followed by the Alphabet or the tech giant Google ($745.47 billion).
So, what do you think about this unexpected and extraordinary victory of the eCommerce Giant, of course, Amazon? Simply share all your views and thoughts in the comment section below.