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Now Microsoft’s Bill Gates Has More Cash than the US Government!
We have earlier informed you that Apple has become richer than the US government with its net cash reserves of $75 billion while the US government holds only $73 billion as operating cash. But today, they have only $54 billion in the bank, almost $2 billion less than Bill Gates cash reserves now. It means that Bill Gates is also now richer than the US government that is letting down poorer day by day, and facing the worst crisis of its history with palpable debt ceiling.
Interestingly, Apple that was leading the US government in the race of cash reserves with a difference of only $2 billion, two days ago, now is exceeding to it with a difference of $21 billion.
This latest news comes from Business Insider that reports;
The Federal government now has only $54 billion in cash in the bank.
That’s $2 billion less than the net worth of Bill Gates, as frequent BI commenter @ComfortablySmug points out on Twitter.
People had been writing that the US’s cash balance had gotten so bad that it was less than some companies. Now it’s so bad that it’s less than some people.
Terrible, terrible. It just goes to show that Congress needs to get its act together now and raise the debt ceiling.
If we look over the whole scenario with another angle, the ordinary US citizen is also richer than its government. How? The US government is currently under $14 trillion debt so technically we can say that an ordinary person like yours is truly “richer” than the US government.
Actually, in terms of financial language, Bill Gates has more money to spend than the poor US government crying under the burden of huge debut.
Image: US Treasury
Bill Gates has a solid background of immense hard work and great success; he co-founded Microsoft in 1975- a company that was initially developing interpreters for programming languages. Then the company introduced full-blown desktop operating systems & office suites in the market that proved hot cakes for computer industry. Now the company has extended its work area to gaming industry, the consumer electronics industry and even the webosphere with their mind blowing services like Hotmail, Bing, SkyDrive etc.