Oil company to knock Microsoft off number one rich spot

by THG Reporting Team May 10, 2006 at 12:15 PM

Microsoft is set to lose the title of the world’s cash richest company to the soaring oil business.

Thanks to soaring oil prices a little known outfit called Exxon has developed such a huge pile of cash that it will soon be mean that it has the largest cash piles belonging to a nonfinancial company.