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Amazon has become the second company to be valued by Wall Street at $1tn, a matter of weeks after Apple beat the online retailer to reach the milestone first.

Its shares traded as high as $2,050.50 before easing a little to end the session at $2,039.51, up 1.3 percent and just short of the milestone level of $2,050.2677. That puts the company's market capitalization-the number of its outstanding shares multiplied by share price-at $1 trillion.

However it was tech giant Apple that was named as the first publicly listed United States company to be valued at $1,000,000,000,000, on 2 August.

Even more telling is Amazon's size when compared to the entire national stock markets of other countries.

Indeed, it was less than a year ago in early October 2017 that Amazon shares first crossed the $1,000 mark. The combined value of both companies is equal to roughly 10 percent of USA gross domestic product.

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The president frequently attacks Amazon founder and CEO Jeff Bezos, who also owns the Washington Post, and links the online retailer to the newspaper's White House coverage. It is now worth about $1.1 trillion.

Bezos is also almost $70 billion richer than the second wealthiest person on the planet, Bill Gates - whose net worth has been around $98 billion lately.

Bezos founded the company in his Seattle garage as a small online book seller.

"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.

He added: "We continue to aspire to be Earth's most customer-centric company, and we recognize this to be no small or easy challenge".


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