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Amazon becomes world’s most valuable public company

Amazon, formed 25 years ago, has eclipsed Microsoft to become the world’s most valuable listed company.

The online giant was worth $797bn (£634bn) when the US stock market closed on Monday after rising 3.4% and moved past Microsoft, valued at $789bn.

Jeff Bezos, the founder of Amazon, is the world’s wealthiest man, with riches of $135bn, according to Bloomberg’s billionaire index.

He overtook Microsoft founder Bill Gates last year.

It is the first time Amazon has held the top position. The share prices of US tech giants have been on a rollercoaster in recent months on worries about sales and trade tensions.

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