Apple Subsidiary Braeburn is 'World's Largest Hedge Fund'
Subsidiary holds upwards of $117 billion in assets.
Not content with being the world's most valuable company, Apple subsidiary Braeburn Capital has become "the world's largest hedge fund."
At the end of June, Braeburn, headquartered in Reno, Nevada had $117.2 billion in assets. Bridgewater, which is widely recognized as the top hedge in the world, had around $100 billion in assets.
Braeburn's existence is simple: to manage Apple's massive and continuously growing cash pile. The firm reportedly keeps its enormous amount of funds in a series of investment vehicles, which includes the likes of stocks and bonds.
Apple's Braeburn division will be shrouded in mystery for the foreseeable future, though, as is the case with hedge funds, they don't have have to divulge information pertaining to its holdings.
With the amount of revenue Apple generates, you wouldn't be wrong in believing that the firm's tax bill ranges in the multi-billions. It's quite the contrary, however. Along with several other large companies (with the majority being technology-based firms), Apple sends its U.S. earnings into its Ireland subsidiary and performs what's known as the "Double Irish With a Dutch Sandwich" to heavily decrease its tax bill.
god i love mlp... why didnt i see that...
Oh, you don't take chump change? Oh well, I have to keep on paying them.... lol
Apple Inc.
Eli Lilly and Company
Facebook
Forest Laboratories
Google
Microsoft
Oracle Corp.
Pfizer Inc.
Source: Wikipedia
There's nothing wrong with free enterprise
Don't try to make me feel guilty
I'm so tired of hearing you cry
There's nothing wrong with making some profit
If you ask me I'll say it's just fine
There's nothing wrong with wanting to live nice
I'm so tired of hearing you whine
About the revolution
Bringin' down the rich
When was the last time you dug a ditch, baby!
Excerpt from 'Capitalism' by Oingo Boingo
I agree. I wouldn't hold it against the companies legally for avoiding US tax in a legal way such as this (I'm a little behind in this, but I've heard that the tax rates on businesses can be even more ridiculous than those on the individual people) and the US government should fix this problem at the source, how they issue taxes.
Well, some rules and regulations are kinda important. I'd hate to see the situations that we'd be in if we didn't regulate food or very anti-competitive business practices.
The Rich never paid taxes. They middle class is the backbone of society. Without a strong middle class we are doomed.