Fill Jeff’s pockets! Amazon is now worth $ 1.1 trillion after stocks hit a record high

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Amazon is now worth $ 1.1 trillion after its stock hit a record low Tuesday amid the surge in online orders during coronavirus crashes.

Amazon shares on Tuesday afternoon were up more than 4% to $ 2,283.32 per share. That surpassed the previous peak of the online retail giant by $ 2,170.22 per share on February 19.

Amazon founder Jeff Bezos was named the world’s richest person last week for the third consecutive year after amassing $ 113 billion in wealth.

And this despite his divorce last year which cost him a quarter of his stake in the tech giant. Bezos, 56 – who founded the e-commerce company from his basement in Seattle, Washington in 1994 – donated $ 36 billion worth of shares to former Mackenzie.

The economic damage caused by the epidemic was widespread and serious after only a few weeks after the arrest. The International Monetary Fund said on Tuesday that the world economy will experience its worst year since the Great Depression.

But for Amazon, an increase in demand for online orders from those who are stranded has resulted in an increase in stock prices.

Tuesday afternoon, Amazon shares were up more than 4% to 2,283.32 shares. That surpassed the previous peak of the online retail giant by $ 2,170.22 per share on February 19

Amazon shares on Tuesday afternoon were up more than 4% to 2,283.32 shares. That surpassed the previous peak of the online retail giant by $ 2,170.22 per share on February 19

Amazon founder Jeff Bezos, pictured with girlfriend Lauren Sanchez, was named the richest person in the world last week for the third consecutive year after amassing $ 113 billion in wealth.

Amazon founder Jeff Bezos, pictured with girlfriend Lauren Sanchez, was named the richest person in the world last week for the third consecutive year after amassing $ 113 billion in wealth.

The company announced Monday that it will hire an additional 75,000 people for jobs ranging from warehouse staff to delivery drivers.

This is in addition to the 100,000 positions advertised earlier that they believe have already been filled, and the new jobs are added to that.

Amazon said on Sunday that it would begin placing new grocery delivery customers on a wait list and reduce shopping hours at select Whole Foods stores to prioritize orders from existing customers.

But the pandemic was not without controversy for Amazon.

There has been a wave of protests across the United States as workers demand more protection as the virus spreads.

The economic damage for the most part has been widespread and severe in the midst of COVID-19 But behind bars, Amazon has seen an increase in demand for online orders. Bezos is pictured wearing a mask and checking the temperature at a Dallas facility last week

The economic damage for the most part has been widespread and severe in the midst of COVID-19 But behind bars, Amazon has seen an increase in demand for online orders. Bezos is pictured wearing a mask and checking the temperature at a Dallas facility last week

An Amazon Flex driver loads his car in Baltimore, Maryland. While workers across the country have worried about measures Amazon has taken to protect workers from COVID-19, the online retailer hired 100,000 people in March, says it wants to add 75,000 full-time jobs and part-time due to growing demand during the Coronavirus pandemic

An Amazon Flex driver loads his car in Baltimore, Maryland. While workers across the country have worried about measures Amazon has taken to protect workers from COVID-19, the online retailer hired 100,000 people in March, says it wants to add 75,000 full-time jobs and part-time due to growing demand during the Coronavirus pandemic

The Seattle-based company has faced a public review of the safety and working conditions of warehouse, delivery and retail workers in the United States after cases of COVID-19 have been reported in some of its facilities.

And on Tuesday it was reported that the company had sacked three other workers who spoke out on the company’s pandemic working conditions.

Bashir Mohamed was fired from the Minnesota factory where he had worked for three years last week after protests, reports Buzzfeed.

Designers Emily Cunningham and Maren Costa, both critical of the online retail giant’s working conditions following the coronavirus pandemic, were also fired.

Amazon says Mohamed was fired because he refused to speak to a supervisor; Cunningham and Costa for “repeated violation of internal policies”.

The layoffs came just two weeks after the company fired another employee, Christian Smalls, for raising health and safety concerns for those working during the epidemic. Amazon said it came to its Staten Island warehouse for a protest in violation of its paid quarantine.

Above Amazon workers hold protest and walkout conditions at Staten Island distribution center in New York on March 30

Employees of the above Amazon hold a protest and walkout on conditions at the Staten Island distribution center in New York City on March 30

Amazon said it plans to spend more than $ 500 million worldwide to raise workers’ wages during the pandemic, up from a previous estimate of $ 350 million.

“We know that many people have been economically affected as jobs in areas such as hotels, restaurants and travel are lost or abandoned as part of this crisis and we invite anyone without a job to join us at Amazon until things get back to normal and their former employer is able to bring them back, “said the company.

Stocks went up most of the time on Wall Street on Tuesday, as investors looked at corporate earnings reports and welcomed signs that government officials were considering how to gradually reopen the economy.

The S&P 500 was up 3% at 2:56 p.m. EST, making up for all of its losses a day earlier. The benchmark index jumped 12% last week, although it remains about 16% below its record level in February. The Dow Jones Industrial Average rose 543 points, or 2.3%, to 23,930. The Nasdaq climbed 4%.

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