Illustration by Alex Castro / The Verge
Google’s parent company Alphabet has overtaken Apple to become the most cash-rich company in the world. The Financial Times reports that as of the second quarter of this year, Alphabet holds $117 billion in liquid reserves, compared to $102 billion for Apple.
Despite the obvious benefits of hoarding so much cash, earning the title of “Cash Kings” might not give much cause for celebration. As the FT notes, such a conspicuous display of wealth could increase pressure from shareholders who’d like to see the company spend more of its money on share buybacks or dividends, and could lead to increased scrutiny from regulators concerned with Google’s dominance. Google and its parent company have been hit with €8.2 billion (around $9.05 billion)…