Amazon became the first publicly traded company to reach a US$1 trillion market capitalization while still led by its founder as CEO.
Amazon crossed US$1 trillion in September 2018, when Jeff Bezos was still serving as chief executive. Bezos founded Amazon in 1994 and led its transformation from a small online bookstore into a global commerce, logistics, cloud-computing, advertising, and media company.
The founder-led detail matters because Bezos remained CEO until July 2021, when Andy Jassy succeeded him. Jassy had previously led Amazon Web Services, the cloud division that became one of Amazon’s most strategically important businesses.
Amazon’s market capitalization milestone depended on its share price and outstanding shares. It did not mean the company had accumulated US$1 trillion in profit or revenue. The valuation reflected investors’ assessment of Amazon’s future earning power across several businesses.