The first company to reach $10 trillion: Google $GOOG Google just issued $17.5 billion in bonds last November, and only three months later it's issuing another. This time, the scale is a whopping $20 billion. The longest bond matures in 2066, and the pricing spread is only 0.95 percentage points higher than US Treasury bonds. This means the market believes that "Google's probability of bankruptcy" is only slightly higher than the probability of the US government going bankrupt. Even more impressive is that it received $100 billion in orders, with an oversubscription rate of 5 times. For a company with hundreds of billions in cash on hand, obtaining such low-cost financial leverage is a devastating blow to other potential competitors. There's only so much money in the market; everyone is lending their money to Google. In the future, companies with slightly weaker credit ratings will face increased difficulty and cost in issuing bonds. Looking at Google's ecosystem development over the years, besides its existing businesses continuously generating profits, it's also SpaceX's largest investor. Add to that Gemini and self-driving cars—if you can't beat them, join them! Let the monopoly come even more fiercely!
