Alphabet Overtakes Apple To Become Most Cash-Rich Company

According to The Financial Times, Google’s parent company Alphabet has overtaken Apple to become the most cash-rich company in the world. As of the second quarter of this year, Alphabet holds $117 billion in liquid reserves, compared to $102 billion net of debt, for Apple. The Verge reports: Despite the obvious benefits of hoarding so much cash, earning the title of “Cash Kings” might not give much cause for celebration. As the FT notes, such a conspicuous display of wealth could increase pressure from shareholders who’d like to see the company spend more of its money on share buybacks or dividends, and could lead to increased scrutiny from regulators concerned with Google’s dominance. Google and its parent company have been hit with around $9.05 billion in antitrust fines by the EU in the past two years, and the company is also facing heavy scrutiny by U..S lawmakers.

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