The report, released by international rating agency Moody’s Investor Service, revealed that Apple, Microsoft, Google parent company Alphabet, Cisco Systems and Oracle owned about 30 per cent of the $1.7 trillion in cash and cash equivalents controlled by non-financial corporations in 2015.
All of the top 50 wealthiest corporations have at least $6.12 billion in cash. Microchip companies Intel and Qualcomm are ninth and 10th on Moody’s list of the most cash-rich companies, while the remainder of the entries consists of health care focused corporations.
Moody’s found that 72 per cent of all non-financial corporate cash-approximately $1.22 trillion-was kept on foreign soil in 2015.
The agency expects total nonfinancial corporate wealth to grow this year to approximately $1.9 trillion.