Apple Has More Money in the Bank than the US Government
Recent figures show that Steve Jobs is richer than the US Government.
'May you live in interesting times.' Ancient Chinese curse
Interesting times indeed. As the world collectively bites its nails while watching the US government sink, literally by the second, further and further into unfathomable debt, Apple is doing OK. Really OK, in fact.
Latest figures show that while the US government has an operating cash balance of US$73.7 billion dollars (they are currently spending 200 billion dollars more a month than they are collecting), Apple has US$76.4 billion in its piggy bank. That's right — Apple officially has more money than the US government.
Apple's success is mostly due to their recent iPhone sales, with an estimated 20 million units shipped in the last quarter. As the US government is estimated to finish the year with a US$15 trillion debt, Apple predicts to be bringing in about 25 billion dollars. So while there may be no government money to pay for pensions, schools and hospital, you can rest assured that we will still be able to text.
And if you want to get your head around just how much a 15 trillion dollars is but find the endless zeros confusing, these visuals should help. We'll never think about the Statue of Liberty in quite the same way again.
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