Apple Now Has More Cash Than the U.S. Government

By Derek Thompson

When Apple reported last week that it had $76 billion in cash, we speculated that it might be enough to buy Goldman Sachs or Facebook. Today, Steve Jobs' reserves match up with the world's largest sovereign entity.

That's right. Apple is currently more liquid than the U.S. government:

As Republicans and Democrats continue to work towards a compromise to the country's debt ceiling crisis, the U.S. Treasury Department said on Thursday that Washington now has a total operating balance of only US$73.768-billion.

Meanwhile, Apple currently boasts a cash reserve of US$75.876-billion, as of its most recent quarterly earnings report at the end of June.


This article available online at:

http://www.theatlantic.com/business/archive/2011/07/apple-now-has-more-cash-than-the-us-government/242729/