Amazon's market value tops $1 trillion

Amazon becomes world's second $1tn company

The Amazon landmark comes about a month after Apple hit the $1 trillion level in early August. Apple's valuation has risen to $1.1 trillion since it first passed the threshold. According to the World's Billionaires list from Forbes, which tracks the net worth of billionaires in real time based on stock market fluctuations, Bezos added as much as $2 billion to his fortune on Tuesday morning, as Amazon's market cap topped $1 trillion.

Now, Amazon has followed in Apple's footsteps - the online retail giant successfully snagged the trillion-dollar company title for itself today, albeit temporarily.

A major contributor to the company's massive profits has been its cloud business, Amazon Web Services (AWS).

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Analysts said the success of the company's cloud business, Amazon Web Services, and rapidly-growing advertising arm have helped reassure investors who have long anxious about Amazon's profitability. Most notable was the speed with which Amazon hit the milestone, with its shares having more than tripled in the past three years.

Amazon's astronomical growth from a small Seattle bookseller into one of the world's biggest companies has made its founder and chief executive, Jeff Bezos, easily the richest person in the world; as of Tuesday, the 54-year-old was worth more than $166 billion, according to Bloomberg's billionaires index.

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Amazon's stock rose 1.7 per cent overnight, putting its market value at just over $US1 trillion ($A1.4 trillion).

"This year marks the 20th anniversary of our first shareholder letter, and our core values and approach remain unchanged", Bezos said in his 2017 letter to shareholders in March of this year.

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