by 👩💻 Stephanie Boyd
Ask anyone who the biggest names and brands in Western culture are these days and you will likely hear the same answers repeated – Apple, Google, Amazon, Facebook – the list goes on. Only one of these, up until recently, was able to break the $1 trillion valuation mark – and that was Tim Cook’s Apple, who, despite continuing to battle against the likes of Samsung and Huawei in the East, appeared to stick their neck ahead of their global competition by quite a significant margin. One firm, however, offering slightly different services, is hot on its heels.
Jeff Bezos famously became the world’s wealthiest man for a brief spell in 2017, but despite that title having been handed back to the incumbent Bill Gates, former CEO of Microsoft, it seems that his once-fledgling online bookstore is now the second brand ever to breach the $1 trillion mark. Amazon – which started life as one of the first-ever websites to offer home delivery on items you would otherwise need to purchase in physical stores – has this week passed the fabled threshold. It’s a remarkable achievement for a firm which has gone from selling second-hand books on the world wide web to video and movie streaming (as well as movie production), kick-starting the eBook craze, one-day shipping on millions of items and much more besides.
▶ Amazon Joins Apple in $1 Trillion Club
Amazon’s stock price has reportedly been on the climb over the summer, which in comparison with Apple’s stint at $900 billion earlier in the year suggests that the rise to fortune for Bezos at all has been a slow, but steady burner – and one which shareholders are more than likely celebrating in full force. Amazon continues to grow its line of products and enterprises as a global brand, and despite a number of controversies with regard to pricing and working conditions, the firm appears to be continuing to enjoy a healthy presence in many online shoppers’ minds.
Certainly, Amazon’s meteoric rise to a trillion shouldn’t be sniffed at – though there are continuing concerns being raised by certain Amazon workers behind the scenes, particularly those who operate the giant’s warehouses, with regard to working conditions and monitoring. Therefore, this is a story that has a number of twists and turns – but for now, at least, Amazon has earned itself a very unique place in history and an essential place in many people’s lives.
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