Co-founder of Microsoft Corporation William Henry Gates III aka Bill Gates is now “richer” than the federal government of the United States of America.
We reported on Apple, Inc. being richer than the US government two days ago. Back then, the US govt. had $73 billion operating cash whereas today, they only have $54 billion left before the world’s most powerful democracy hits the ever-looming debt ceiling.
The news comes from Business Insider which reported that US had only $54 billion cash left in the bank, just half its total value only eight days back.
From Business Insider:
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.
Comparing the operating cash of the US government versus a person’s worth or a Apple’s total cash reserves isn’t exactly a direct comparison. The United States is currently under $14 trillion debt which means even a humble person like yours truly is technically “richer” than the US government.
Still, this basically means that Bill Gates has got more money to spend (after selling some of his assets) than the US government. Let me reiterate: a person now has more money to spend than the most powerful democracy in the world.
Bill Gates co-founded Microsoft in 1975. Since then, the corporation has seen, as Borat would say, great success. From a software company initially developing interpreters for programming languages to full-blown desktop operating systems, office suites and then expanding into the gaming industry, the consumer electronics industry and even the webosphere with their diverse variety of online services such as Hotmail, Bing, SkyDrive etc.
Two days ago, we reported on how Apple’s cash reserves were greater than the operating balance of the US government. Today, that difference of $2 billion has been greatly increased to $21 billion.
If this decrease in operating cash keeps on increasing, then Google, Inc. is up next for the title of being “richer” than the US government.