Apple Has More Cash Than U.S. Government

Posted: Jul 29, 2011 8:08 AM

The company that brought us the Ipad, Iphone, Ipod and more, has more cash on hand than the federal government, once again proving the private sector is more efficient than the public. From BusinessInsider:

According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.

Apple's last earnings report showed that the company had $76.2 billion in cash and marketable securities at the end of June.

In other words, the world's largest tech company has more cash than the world's largest sovereign government.

That's because Apple collects more money than it spends, while the U.S. government does not.