Apple has more cash than US Government

Tim Grey
31 July, 2011
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The world’s largest technology company, Apple, has surpassed the world’s largest government in its liquid assets. That’s right: as the possibility of default by the United States Treasury grows ever more likely, Apple pops open the champagne to celebrate the fact that while the US Government has US$73.8 billion dollars in operating cash, it has US$76.2 billion in cash and marketable securities, according to Business Insider.

But, unlike the US Government, Jobs & Co owes nothing to banks and creditors. The company recently reported yet another record quarterly earnings, posting sales of US$28.57 billion and net profit of US$7.31 billion, up by 82 percent and 125 percent, respectively.

Meanwhile, the US Government, now in crisis talks to avoid a double-dip recession, spends $200 billion more than it collects taxes every month, according to the Sun.

One Comment

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  1. mattyf says:

    Maybe they should ‘buy’ the US Govt – Apple would do a great job of running the country. Hell, they sorted out their software and hardware compatability issues years ago, so they should be able to get the US to play nicely with the rest of the world…….;))

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