Hey Apple, can a country get a loan???
“He got his own money!! And baby, when I tell you he’s got his own money, I MEAN THE BOY HAS GOT HIS OWN MONEY!!” ~ Cleo McDowell
When Steve Jobs passed away in October 2011, he left behind a wife, three children, and a net-worth of about $6.7 Billion. Oddly enough, while Steve Jobs is synonymous with Apple Computers, iPods, iPhones and iPads…that is not where the bulk of his wealth came from. Of his $6.7 Billion net-worth, only $2.1 Billion came from his 5.5 million shares of Apple stock. The remainder of his wealth came from his 138 million shares of the Walt Disney Company. Nonetheless, his visionary leadership left behind a company with a market value of $348.8 Billion, once as high as $656 Billion.
But all of that “market valuation” stuff is just speculative, and it fluctuates from day-to-day. What really counts is COLD HARD CASH!!!
The United States is by far the largest economy in the world, at roughly $16.9 Trillion. But with all of that gross domestic product…we are still relatively CASH POOR!!! Right now, with a national debt of over $17.5 Trillion (AND CLIMBING), the United States has cash reserves of only $48 Billion. By comparison, Apple has cash reserves in excess of $150 Billion. This is yet another example of the private sector managing funds better than our bloated government.