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Amazon tops Google as second most valuable company in US

Jeff Bezos is worth about $130 billion, making him the wealthiest person on the planet - and presumably the universe....

Posted: Mar 20, 2018 5:44 PM
Updated: Mar 20, 2018 5:44 PM

Jeff Bezos is worth about $130 billion, making him the wealthiest person on the planet - and presumably the universe. Maybe one day he'll venture into outer space in one of his Blue Origin rockets to look for another life form with more money.

Until then, Bezos will have to settle for another milestone.

That other company he runs, Amazon, just passed Alphabet, the owner of Google, to become the second most valuable company in America. Google stock fell for a third straight day Tuesday while Amazon bounced back.

As a result, Amazon's market value climbed to about $765 billion, almost $3 billion more than what Google is worth. Only Apple is worth more. (And Microsoft, which Amazon passed earlier this year, isn't far behind. With a market value of $720 billion, it is the fourth most valuable in the United States.)

Google has been dragged down in recent days by concerns about the Facebook data scandal. Google dominates the search advertising market and owns YouTube. That makes it and Facebook the leading players in the digital ad world.

Google already admitted last year that Russia-backed troll farms bought ads on YouTube, Gmail and other Google properties leading up to the 2016 US presidential election. Investors are starting to worry that this controversy won't go away anytime soon.

At the very least, Google and Facebook executives could get dragged in front of Congress and lawmakers in Europe to explain themselves.

Perhaps more worrisome: The possibility that regulators could crack down on how these companies sell ads, which could slow their breakneck pace of revenue and profit growth.

Related: Three cheers for old tech? Cisco is the market's comeback kid

That's less of a problem for Amazon than Google, though.

Amazon is still first and foremost a company that makes its money from retail (online and offline thanks to Whole Foods and Amazon-branded stores), Prime subscriptions and hosting websites for other companies through its cloud business.

It's true that Amazon has started to sell more advertising. Research firm eMarketer noted in a report Monday that Amazon is expected to generate nearly $3 billion in digital ad revenue this year.

But that's only 2.7% of the more than $100 billion online ad market. Google, including YouTube, controls more than a third of the market. Ad revenue is expected to hit $40 billion this year.

Of course, Amazon's clout is growing as well. But for now, it seems that investors (and politicians) aren't too concerned about Amazon's dominance. Shares of Amazon have soared 35% this year and are less than 3% from their all-time high.

Amazon still has a ways to go before it tops Apple as the most valuable company on Wall Street. The maker of iEverything is worth nearly $900 billion.

California Coronavirus Cases

Data is updated nightly.

Cases: 3563578

Reported Deaths: 51953
CountyCasesDeaths
Los Angeles119089421328
Riverside2894503767
San Bernardino2862912816
Orange2610223904
San Diego2596413271
Santa Clara1104221777
Kern102627826
Fresno952021443
Sacramento931801472
Alameda804961241
Ventura77534844
San Joaquin665691101
Contra Costa62164674
Stanislaus56024946
Tulare47784758
Monterey42138328
San Mateo38922515
San Francisco34213410
Santa Barbara31763409
Solano30024164
Merced28915397
Sonoma28063298
Imperial26888591
Kings21951218
Placer19763232
San Luis Obispo19612227
Madera15436209
Santa Cruz14588183
Marin13136197
Yolo12816185
Shasta10972174
Butte10941160
El Dorado9095100
Napa901469
Sutter884597
San Benito575959
Yuba573336
Lassen560119
Tehama508152
Nevada395274
Tuolumne394659
Mendocino379643
Amador345741
Humboldt318033
Lake315341
Glenn222023
Colusa212813
Calaveras190547
Siskiyou174014
Inyo128737
Mono12114
Del Norte9875
Plumas6536
Modoc4524
Mariposa3957
Trinity3675
Sierra990
Alpine810
Unassigned00
Chico
Partly Cloudy
63° wxIcon
Hi: 70° Lo: 36°
Feels Like: 63°
Oroville
Clear
59° wxIcon
Hi: 65° Lo: 48°
Feels Like: 59°
Chico
Partly Cloudy
63° wxIcon
Hi: 61° Lo: 44°
Feels Like: 63°
Red Bluff
Clear
65° wxIcon
Hi: 46° Lo: 16°
Feels Like: 65°
Red Bluff
Clear
65° wxIcon
Hi: 67° Lo: 43°
Feels Like: 65°
Chico
Clear
63° wxIcon
Hi: 72° Lo: 44°
Feels Like: 63°
After a windy Saturday and fairly breezy Sunday, the wind we've had is weakening as the month of February comes to a close. We can expect a mostly clear first morning of March, followed by more clouds and mild air by the afternoon.
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