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Apple have more money than US government

Steve Jobs will go down in history as one of the most successful leaders of all time, as Apple continue to grow into one of the largest companies in the world. Latest reports show that Apple now have more cash on hand than the US government.

Washington have a total operating balance of $73.768 billion while Apple have a cash reserve of $75.876 billion.

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The Financial post say “Of course, the numbers aren’t directly comparable; the government’s number represents how much financial headroom it has before bumping up against an arbitrary debt ceiling, while Apple’s cash reserve represents the pile of money the Cupterino, California-based company has available on its balance sheet.”

Apple are also standing with a market capitalisation of $363.25 billion, the second largest company, behind Exxon Mobil. Analysts claim they will take the top spot sometime in the next 2 years.

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