The world’s largest hedge fund probably isn’t located anywhere you would pinpoint. It’s actually present in Reno, Neveda, inside an office on Sandhill road. This by no means is a sprawling skyscraper; it’s nothing more than a mere office suite owned by Braeburn, a Nevada-based asset management corporation. The owner of Braeburn is a way more far-fetched popular company, and it may actually startle you. Apple; famous for producing the iPhone, iPod, and iPad is the parent-company.
Braeburn has had a single time consuming job since the year 2006; managing its parent company’s cash. When Braeburn began their journey with Apple six years ago, the cash pile sat at the measly $10 billion mark. Since the release of the iPhone and iPad, Apple has added in excess of $107 billion to the lump sum.
Flashing back to 2006, Apple hired Braeburn to manage their cash due to inflation of its bank accounts and stock pricing. One could say that Braeburn was solely put into business to work for Apple.
Here’s how it works: when a product sold by Apple is purchased, a portion of the sum is deposited into the accounts managed by Braeburn. The cash located in Apple’s saving accounts have since managed to earn $2.5 billion in interest and dividend. Apple declined to comment specifically on the role of its Neva operations.
Source: Zerohedge
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