Share to twitterCorporate cash reserves of non-financial companies in the EMEA [or"Europe Middle East and Africa"] region soared past a trillion dollars in 2018, posting a double-digit percentage rise on an annualized basis.
Oil giants like Saudi Arabia's state-owned oil company Aramco and Royal Dutch Shell now make up seven of the top 10 cash-rich companies. Additionally, the 30% jump in cash held by the top 10 companies in the region, reflected most notably newcomer Saudi Aramco , as well as German automaker Volkswagen, with the latter posting a cash holdings rise by €10 billion.
But the Moody’s report found a different story stateside with U.S. technology firms maintaining the top spot in 2018 with 48% share of total cash pile.
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