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 byin sales for the quarter ended June 30.
Alphabet's financial success comes during a controversial era for the company. It faces protests from employees and questions about it handles and its .,
However, it still hasn't held the title of "world's most valuable company." Apple took that crown last August as itbut it's been overtaken by and in the months since.
Neither Alphabet nor Apple immediately responded to requests for comment.