MIAMI (CBSMiami/CNN Money) — Amazon is now worth more than Microsoft – a first.READ MORE: Miami-Dade Police Department Honors Fallen Law Enforcement Officers
The company was founded by Jeff Bezos who graduated from South Florida’s Palmetto Senior High.
Amazon is now the third largest in America.
Amazon’s market value soared above $685 billion, making the Jeff Bezos-led giant worth more than Microsoft for the first time ever. Microsoft’s market value currently stands at $684 billion.
Amazon now trails only Apple, which has a market cap of about $815 billion, and Google owner Alphabet, valued at $750 billion.READ MORE: Norwegian Cruise Line CEO Warns Company Could Take Ships Out Of Florida Over Vaccine Proof Ban
These tech giants are all in a race to the magical trillion dollar level, a height that no U.S. company has topped as of yet.
But Amazon clearly has the most momentum. Its stock has soared nearly 21% this year, well ahead of the gains of Alphabet and Microsoft. Apple’s stock has fallen year-to-date.
Bezos has already passed Microsoft co-founder Bill Gates as the wealthiest person on the planet back in October, according to Forbes and Bloomberg. Bezos is now worth $116 billion, nearly $25 billion more than Gates.
Berkshire Hathaway CEO Warren Buffett and Facebook’s Mark Zuckerberg rank third and fourth in the world’s richest rankings.MORE NEWS: Federal Appeals Court Orders New Trial For Former US Rep. Corrine Brown
(©2018 CBS Broadcasting Inc. All Rights Reserved. CNN contributed to this report.)