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Apple Is Richer Than the US Government

Andrew Williams

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Apple Is Richer Than the US Government

We knew Apple was rolling in it but we didn’t expect this – Apple has more cash than the US government.

In a spectacular conjunction of things going very well for Apple, and not so well for the US gov’t, BusinessInsider discovered that Apple is the richer of the two. Apple’s recent earnings report reveals that it has $76.2 billion, while the U.S. Treasury is pocketing a mere $73.8 billion. The reality isn’t as absurd as an image of Steve Jobs swimming through a deeper money swimming-pool than Obama’s, but it’s nevertheless an amusing truth.Apple

Apple revealed its latest earnings figures just last week, and they were its best results ever. In the last quarter alone it sold 9.25 million iPads and 20.34 million iPhones, with a 36 per cent increase in revenue, year-on-year. It continues to trot-out excellent new products too, such as the brand-new Apple Macbook Air, just reviewed on the site.

The US Government, on the other hand, is close to defaulting on its national debt of $14,000,000,000,000. That’s a lot of iPhone 4s, even if you’re buying them SIM-free. For the sake of balance we should say that Apple and the US Gov’t are, of course, very different entities. One is responsible for the well-being of 300,000,000 people, the other just has to produce gadgets enough to make us happy. How different the two seem may depend on how big an Apple fan you are.

via BusinessInsider

betelgeus

July 30, 2011, 3:27 am

erm the us treasury is 3 trillion pounds a year about 250 billion a month

Neville Mosey

July 31, 2011, 4:35 am

The US spends $685.1 billion on defense alone who on earth wrote this article?

Fleabane

July 31, 2011, 1:36 pm

Though if you add other incomes in rise to 9 trillion; I wonder which office junior trusted reviews got to come up with this tripe?
http://www.usgovernmentrevenue.com/

Enigma

July 31, 2011, 9:57 pm

"Apple's recent earnings report reveals that it has $76.2 billion, while the U.S. Treasury is pocketing a mere $73.8 billion. The reality isn't as absurd as an image of Steve Jobs swimming through a deeper money swimming-pool than Obama's, but it's nevertheless an amusing truth."

Yes: It is Absurd.

No: Its not true.

The US has assets like the Gold in Fort Knox @$1627.16 per ounce!!!

From Wikipedia:

"The United States Bullion Depository holds 4,578 metric tons (5046 tons) of gold bullion (147.2 million oz. troy). This is roughly 2.5% of all the gold ever refined throughout human history. Even so, the depository is second in the United States to the Federal Reserve Bank of New York's underground vault in Manhattan, which holds 7,000 metric tons (7716 tons) of gold bullion (160.8 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations."

Andrew_TR

August 1, 2011, 2:33 am

The figure quoted here for the US gov't is the amount it has available on-hand in cash and securities, admittedly a small part of a larger picture. We saw it as an amusing, but ultimately not particularly serious, story and wrote it up as such. Rest assured, if there were harder-hitting stories breaking at the time we'd have covered those instead.

Gk.pm

August 1, 2011, 1:58 pm

Ah, I missed the name change from TrustedReviews to AmusingReviews.

Oh wait it still says Trusted in there, is that coming off when the much promised design and performance fixes are brought online?

Lantic

August 1, 2011, 2:16 pm

The fact that you even need to write this shows the pedantic nature of some of the TR reader base! And shows some people have way too much time on their hands doing research to debunk the article.

Andrew_TR

August 1, 2011, 3:05 pm

By that logic, we shouldn't have news stories at all, surely? We should be getting some more site optimisations soon - it's happening bit-by-bit. We're as keen to see these as you are, of course.

Enigma

August 2, 2011, 2:53 am

@AndrewTR take that smug grin off your face ;-).

I almost reported you for "abuse" for thumbs down but then I thought I can too play at that game.

You're marked man now pal!

Andrew_TR

August 2, 2011, 1:26 pm

Ha! It wasn't me. Your comment was perfectly valid as far as I'm concerned.

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