The world’s largest online retailer Amazon has overtaken Microsoft to become the world’s most valuable listed company.
Amazon was valued at $797 billion when the US stock market closed on Monday after rising 3.4% moving past Microsoft, valued at $789 billion.
This is the first time Amazon is occupying that position in its 25 years history as a retail giant.
Last year Amazon founder Jeff Bezos overtook Microsoft founder Bill Gates as the World’ Wealthiest Man.
Mr Bezos is currently worth $135 billion according to Bloomberg’s billionaire index.
Amazon in November last year announced it has selected New York City and Arlington, Virginia, as the locations for its new headquarters.
It says an amount of $5 billion will be invested to create more than 50,000 jobs across the two new headquarters locations, with more than 25,000 employees each in New York City and Arlington.
The new locations will join Seattle as the company’s three headquarters in North America.