You are currently viewing $49.5 Billion in U.S. Treasury? For These Billionaires, That’s Nothing

The cash balance at the Treasury Department is now lower than the net worth of some of the world’s richest people.

The Treasury Department’s cash balance fell to just under $49.5 billion on Wednesday, as the United States inched toward running out of cash to pay its bills.

That was significantly lower than the $316 billion the department had in operating cash, which is held at the Federal Reserve Bank of New York, at the start of the month.

Just how empty is the Treasury cash coffer? For comparison, $49.5 billion is on par with the gross domestic product of Azerbaijan and Tunisia and lower than the net worth of the two dozen wealthiest people in the world. Of course, much of the assets of those billionaires are tied up in stocks, rather than liquid assets.

Here is a list of people with higher net worths than the U.S. cash reserves, according to Bloomberg

Keep reading this article on The New York Times Business.

Leave a Reply