Google’s parent company Alphabet is now the most cash-rich company by overtaking Apple. With the end of the second quarter, Alphabet holds $117 billion compared to Apple which has $102 billion in liquid reserves.
With Google and its parent company already being hit by anti-trust fines and facing heavy scrutiny by US lawmakers, the ‘Cash kings’ title doesn’t bring in much celebration.
Obtaining the ‘most valuable company’ title still remains elusive for Alphabet. Apple was the first company amongst tech giants to gain it but has been now overtaken by Amazon and Microsoft.