Apple incurred a global fine exceeding $2.1 billion last year due to antitrust violations, a figure that only amounts to slightly more than a week’s free cash flow.
The encrypted email service provider Proton developed its latest Tech Fines Tracker, where Google emerged as the most heavily penalized entity, followed closely by Apple …
The tracker encompasses all fines imposed for legal infractions. In general, this covers both antitrust and privacy issues, although in Apple’s scenario, it primarily pertains to the former.
Apple’s total does not include the $14 billion the company was mandated to pay in back taxes to the Irish government, as this sum does not entail a penalty. The wrongdoing was attributed to Ireland for offering an advantageous tax arrangement; Apple merely accepted the offer and was obliged to pay the standard tax amount, which would have been due if it had paid at the same rate as other firms in the area.
According to Proton, the cumulative fines imposed on technology giants surpassed $8.2 billion. While this total is significant by many standards, Proton highlights that each of these companies could settle their fines from their free cash flow (revenue minus specified expenses) within a timeframe ranging from one day to slightly over two weeks.
| Company | Total fines 2024 | Time to pay off its fines(using free cash flow) |
| Amazon | $57,478,000 | 1 day, 0 hours 51 minutes |
| Apple | $2,117,203,000 | 7 days, 2 hours, 28 minutes |
| $2,974,752,000 | 16 days, 21 hours, 25 minutes | |
| Meta | $1,462,850,000 | 9 days, 19 hours, 15 minutes |
| Microsoft | $1,605,000,000 | 7 days, 21 hours, 49 minutes |
| TOTAL | $8,216,283,000 |
The $8.2 billion in fines levied against big tech in 2024 – a seemingly enormous sum – equates to under three weeks’ revenue for these corporations. When assessed against their free cash flow (which deducts certain unavoidable expenses from revenue), it would only take 16 days and 21 hours to cover the fines if they were settled simultaneously.
Google was hit with the highest fines this year, just below $3 billion. Nonetheless, with its free cash flow, it could eliminate all penalties in less than three weeks of operations. Meta can resolve its $1.4 billion in fines in under two weeks. Amazon’s $57 million in fines amount to a negligible figure – easily settled with just one day’s earnings […]
Apple’s most significant penalty this year was $2 billion imposed by the EU due to violations of competition law in music streaming […]
Jurgita Miseviciute, Head of Public Policy at Proton, stated: “Why would they be concerned about a fine for infractions that are like a parking ticket for you and me? It’s time for regulators to adopt a tough stance with big tech. You don’t thwart a bank heist by deploying guards armed with feathers. We need a conducive environment for tech companies, regardless of their origin, to thrive without being obstructed by market leaders, and robust enforcement of competitive legislation is essential. Fines may not suffice; big tech must put an end to their anticompetitive behaviors.”
Proton’s figures are derived from reputable news sources, and they acknowledge that some fines might be unaccounted for. Lawsuit settlements are excluded unless a government is the plaintiff.
You can explore the complete report here.
Photo by Dmytro Glazunov on Unsplash
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