Google parent Alphabet overtakes Apple to become world's most cash-rich company
It's got $117 billion in liquid reserves, compared to Apple's $102 billion, the Financial Times reported.
Alphabet has a whole lot of cash in reserve.
Google parent Alphabet became the most cash-rich company in the world during 2019's second quarter, taking Apple's long-held crown, according to the Financial Times. Alphabet apparently has $117 billion in cash, while Apple has $102 billion.
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.
Alphabet's financial success comes during a controversial era for the company. It faces antitrust scrutiny, protests from employees and questions about it handles YouTube extremists and its projects in China.
However, it still hasn't held the title of "world's most valuable company." Apple took that crown last August as it became a trillion-dollar company, but it's been overtaken by Amazon and Microsoft in the months since.
Neither Alphabet nor Apple immediately responded to requests for comment.
