Amazon hits $1 trillion valuation amid Trump attacks [View all]
Amazon briefly exceeded $1 trillion in value Tuesday amid growing criticism from President Trump, becoming the second U.S. corporation to reach that threshold.
The online retail giant eclipsed the $1-trillion mark Tuesday morning when the price of one of its 487,741,189 shares rose to $2,050.27, according to CNBC. The stock value later slipped but has gained 1.17 percent as of 12:30 p.m.
Apple was the first U.S. corporation to exceed $1 trillion in value when it crossed the threshold on Aug. 2. The combined value of both companies is equal to roughly 10 percent of U.S. gross domestic product.
Amazon has dominated U.S. retail as more consumers shift away from brick-and-mortar stores toward online retailers. The company accounts for 49 cents of every e-commerce dollar spent in the U.S., contributing to its $178 billion in annual revenue, and it employs more than 550,000 workers, according to Thee New York Times.
Amazon has expanded into web hosting services, advertising, consumer technology, entertainment and e-books since launching as an online bookstore in July 1995.
While Amazon’s plans to build another headquarters attracted offers of lucrative tax breaks and benefits from dozens of state and city leaders, the company has been fiercely attacked by Trump over its size and influence. The president told Fox News last week that Amazon and fellow tech giants Google and Facebook could be in a “very antitrust situation,” but declined to say whether they should be dismantled.
http://thehill.com/policy/finance/404961-amazon-breaks-1-trillion-in-value-amid-attacks-from-trump
Sounds like Trump is just jealoius of anyone who has more money than him.
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