Trending

These companies are richer than South Africa

Staff Writer

 ·9 Apr 2014

Tech and Internet giants, Apple, Google, Microsoft and Cisco have more cash on hand than most countries in the world, including South Africa.

This is according to data compiled by American banking group, US Trust, which shows that, with cash reserves sitting at $159 billion, Apple has more cash at its disposal than countries like the US, Malaysia, Turkey, Poland and the UK (excluding gold reserves).

Microsoft’s cash reserves ($84 billion) place it high above most countries as well, with Google ($59 billion), Verizon ($54 billion) and Cisco ($47 billion) all having deeper pockets than South Africa, which has cash reserves of $42 billion.

“Amid a world of uncertainty, one thing is without question: Most U.S. corporations have plenty of capital at their disposal,” said U.S. Trust’s Joseph Quinlan told Business Insider.

According to findings by Moody’s, the top five company cash kings are Apple, Microsoft, Google, Verizon and Pfizer.

“These five companies have $404 billion, or 25%, the total non-financial corporate cash balances, up from $347 billion, or 24%, for the top five in 2012,” the research group said.

Apple accounted for $159 billion, or 9.7%, of total corporate cash in 2013, up from $137 billion, or 9.5%, in 2012.

“The company’s $159 billion is more than the aggregate cash of every industry sector except technology and healthcare/pharmaceuticals,” Moody’s said.

Top company/country cash reserves (excluding gold)

IMF, Moody’s, US Trust data. Gold reserves not included.

Company, Country cash reserves (via Business Insider)

More on South Africa

South Africa to lose African crown

Nigeria on the cusp of broadband greatness

How the Internet can bring R3.1 trillion to Africa

Surge in Africa’s wealthy