Amazon is now the most valuable company on the planet

(CNN Business) - Amazon CEO Jeff Bezos has been the richest person on the planet for more than a year. Now, Amazon is the most valuable company in the world.

He overtook Microsoft on Monday to take first place. Amazon shares rose another 1% on Tuesday and the company now has a value of almost 810,000 million dollars, compared to Microsoft's 790,000 million dollars.

Amazon shares have already risen 10% this year. And Bezos, thanks in large part to his 16% stake in Amazon, has an approximate $ 135 billion fortune, according to Forbes and Bloomberg. Bezos also owns the Blue Origin space exploration company and The Washington Post. Bezos has an advantage of more than 40,000 million dollars on the second richest person in the world, the co-founder of Microsoft, Bill Gates.

However, the rise of Amazon to the top of the most valuable companies in the world does not mean that Amazon is operating at its highest price. The company briefly surpassed the trillion dollar mark last September.

But Amazon and other shares of technology companies have fallen from their highs in recent months along with the market in general. Amazon shares are still close to 20% below their historical maximum.

The market gives a big bite to Apple

Apple has dropped even more. Not long ago, Apple was the most valuable company on Earth with a market capitalization that peaked at more than $ 1.1 trillion. It has fallen more than 35% since its historic high.

Investors have punished Apple due to the slowdown in demand for smartphones. The company's shares fell last week when they warned that sales of its iPhone would be lower than forecasts for the most recent quarter, largely due to weakness in China.

The market capitalization of the company is now 710,000 million dollars. It is in fourth place behind Amazon, Microsoft and Alphabet, owner of Google, which has a market value of approximately 750,000 million dollars.