E-commerce giant Amazon.com added over $89 billion in market capitalisation in the span of last one month, which is equal to the total market capitalisation of India’s most valued firm Reliance Industries.
E-commerce giant Amazon.com added over $89 billion in market capitalisation in the span of last one month, which is equal to the total market capitalisation of India’s most valued firm Reliance Industries. Amazon.com share price has been continuously surging since October last year, following which the fortunes of founder and CEO of Amazon.com, Jeff Bezos, breached the psychological mark of $100 billion in 2018.
In the last one month alone, from 13 February to 12 March, Amazon.com added 13% to take its market cap from $685 billion to $774 billion. Its share price during the same time has surged from $1414.51 to $1598.39. On the other hand, as at the time of writing this story, Reliance Industries market cap is Rs 5,89,502.62 crore or $90.63 billion.
Shares of Reliance Industries have been on a rising spree for last one year — since February 2017, except for occasional dips — taking the last one year’s gains to over 70%. Earlier in January last this year, the telecommunications arm of Reliance Industries Ltd, Reliance Jio Infocomm Ltd turned profitable for the first time, beating India’s largest telecom company Bharti Airtel in terms of domestic standalone net profit.
According to latest list Forbes Billionaire 2018, Jeff Bezos’ net worth equalled $112 billion, making him the richest person on the planet. While on the other hand, Mukesh Ambani, Chairman, Reliance Industries, featured at the 19th place in the list of Forbes Billionaire 2018 with a net worth of $40.1 billion. Jeff Bezos, the creator and conceptualizer of 24-year-old Amazon.com Inc. became world’s richest person several times during July-September 2017, the time when a sharp surge was witnessed in shares of Amazon.com.
However, it must be noted that the business models of Mukesh Ambani-controlled Reliance Industries and Jeff Bezos-led Amazon.com are different in nature of operations and the counterparty to which they cater to. Reliance Industries is primarily involved in petrochemical products, textile, telecommunications etc, while Amazon.com masters in the e-commerce platform across the world with its unique selling propositions over the time so far. Jeff Bezos now tops the Forbes list of billionaires and Bloomberg Billionaire index featuring ahead the philanthropists, business magnates, super-investors and world leaders like Bill Gates and Warren Buffett.