Google parent Alphabet became the most cash-rich company in the world. According to the Financial Times, during 2019’s second quarter, Alphabet Became a new king of cash taking Apple’s long-held crown. Alphabet is now the World’s Richest Company in terms of liquidity since the second quarter of 2019. Now, The title for the company with the biggest financial reserves is for Google’s parent, Alphabet. After holding the title for more than a decade, Apple has been dethroned as the king of cash by Alphabet.
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The World’s Richest Company Alphabet (Google) liquid cash
Alphabet apparently has $117 billion in cash, while Apple has $102 billion. Its liquid reserves of the Company risen by almost $20 billion since the end of 2017, while Apple’s fell from a peak of $163 billion, the Financial Times noted. The report comes a week after Alphabet beat analyst estimates by reporting $38.94 billion in sales for the quarter ended June 30. Alphabet’s financial success comes during a controversial era for the company as it faces monopoly sanctions and protests from its employees.
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However, the title for the “most valuable company in the world” is still for Apple. It is the case of the Cupertino company. Apple was first to hit the milestone in August last year, but since then it’s market cap has slipped. Apple has now been overtaken by both Amazon and Microsoft, the latter of which is the only company to currently have a market cap above 1 trillion dollars.
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Its liquid reserves have risen by almost $20 billion since the end of 2017, while Apple’s fell from a peak of $163 billion, the Financial Times noted. The report comes a week after Alphabet beat analyst estimates by reporting $38.94 billion in sales for the quarter ended June 30.