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Amazon Crossed $2 Trillion In Market Capitalization For The First Time

by THEFUTURE.TEAM

June 28, 2024

Amazon reported a market capitalization of $2 trillion for the first time, becoming one of the few companies in the world to pass the milestone.

KEY FACTS

Amazon‘s market capitalization surpassed $2 trillion on Wednesday after its shares hit a record high of $193.
The online commerce giant joins Microsoft, Apple, Nvidia and Alphabet as the only public companies in the world worth $2 trillion or more.
Bank of America raised its price target on Amazon shares from $210 to $220, suggesting another 12% upside for the stock and a market capitalization of $2.3 trillion.

FORBES ASSESSMENT

The net worth of Jeff Bezos, Amazon’s founder and chairman, grew by nearly $6 billion on Wednesday, according to Forbes. Bezos’ net worth of $209 billion is the second largest in the world, trailing only Tesla CEO Elon Musk’s net worth of $219.2 billion. Bezos, who owns about a tenth of Amazon’s capital, is $35 billion richer than he was at the end of 2023.

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KEY STORY

Bezos’ growing wealth came on the heels of a rally in Amazon’s stock. Shares are up 27% year-to-date and 130% since the start of last year. Now led by CEO Andy Jassy, Amazon is among the most profitable companies in the first quarter, with a net income of $10.4 billion, a huge improvement from a loss of $3.8 billion in the first quarter of 2022 and a profit of 3.2 billion in the first quarter of 2023. In addition to Amazon’s growing profit, its stock is also getting a boost from broader investor interest in AI, with Amazon Web Services among the most recognizable AI products on the market. Amazon’s market value is set to grow by more than $400 billion in 2024, outpaced by Microsoft and Apple’s gains of more than $500 billion, respectively, and Nvidia’s $1.8 trillion hit.

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Competition Authority Launches Comprehensive Review of ExxonMobil Cyprus Acquisition

by THEFUTURE.TEAM

September 16, 2025

Investigation Initiated Over Strategic Acquisition

The Competition Protection Authority has commenced a thorough investigation into the acquisition of ExxonMobil Cyprus Limited’s share capital by Petrolina Holdings Public Ltd through Med Energywise Ltd. This inquiry was formally initiated following a session held on 10 September 2025, after an in-depth review of the pertinent report by the Authority’s Service.

Concerns Over Market Compatibility

Authorities have expressed serious concerns regarding the compatibility of the transaction with established competitive practices. The review indicates that the acquisition may affect several critical petroleum markets, both horizontally and vertically, thereby raising the potential for adverse impacts on market dynamics.

Horizontal Market Dynamics

On the horizontal front, potential effects have been identified in the import market for petroleum products, as well as in both wholesale and retail distribution channels of these products. The consolidation is believed to increase the risk of price rises and coordinated actions, given the direct competitive proximity between Petrolina and ExxonMobil.

Vertical and Adjacent Market Implications

Vertical aspects of the merger are also under close scrutiny. The new entity could restrict competitors’ access to critical infrastructure such as storage facilities, supply channels, and customer bases. These restrictions could further affect the onshore distribution of fuels, the wholesale market for lubricants, and specialized technical services connected with fuel station operations.

Local Market Considerations

Particular attention is being paid to the potential concentration in the retail fuel market. The investigation suggests that a reduced competitive landscape within a four-kilometer radius of the companies’ fuel stations could lead to diminished local competition, adversely impacting consumer prices and options.

Next Steps and Industry Impact

The Competition Protection Authority, which reached a unanimous decision to pursue a full investigation, remains open to submissions from parties that might be affected by this transaction, as mandated by current legislation. A final decision is expected within four months upon receipt of all necessary evidence, potentially setting a significant precedent for future market consolidation cases in the energy sector.