As of the close of business on May 25, Treasury had just $38.8 billion in cash, according to the latest federal data. That’s down from more than $200 billion earlier this month and nearing the bare minimum level of $30 billion. For context, 31 billionaires are each worth more than the federal government’s $38.8 billion in cash, according to the Bloomberg Billionaires Index. Some of them, like fashion mogul Bernard Arnault – are worth a lot more.
Tesla billionaire Elon Musk is worth $185 billion and Amazon founder Jeff Bezos has a net worth of $144 billion. The list of 31 billionaires worth more than Uncle Sam’s cash total includes household names like Michael Dell, legendary investor Warren Buffett and Facebook co-founder Mark Zuckerberg, as well as billionaires with lower profiles such as French billionaire Francois Pinault and Chanel chairman Alain Wertheimer.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State Farm stops home insurance sales in California, citing wildfire risks | CNN BusinessState Farm is stopping new home insurance sales in California, citing wildfire risks and skyrocketing construction costs, the company announced Friday.
Source: CNN - 🏆 4. / 95 Read more »
Lawyer apologizes for fake court citations from ChatGPT | CNN BusinessThe meteoric rise of ChatGPT is shaking up multiple industries – including law. A lawyer for a man suing Avianca Airlines apologized in court after at least six cases as research for a brief were bogus, made up by ChatGPT.
Source: CNN - 🏆 4. / 95 Read more »
This is the calamity Washington is trying to avoid with a debt ceiling deal | CNN BusinessAs debt ceiling drama in Washington continues to unfold, the US could reach a day when it can’t meet its financial obligations. In the debt limit fight, a missed payment is different than a debt default.
Source: CNN - 🏆 4. / 95 Read more »
Microsoft executive calls for faster AI regulation | CNN BusinessThe government needs to work faster to regulate AI, which has more potential for the good of humanity than any other invention preceding it, Brad Smith, Microsoft president and vice chair, said on CBS’ “Face the Nation” Sunday.
Source: CNN - 🏆 4. / 95 Read more »