Google stock buy-back: You'll groan when you realize where that $5,099,019,513.59 figure came from Internet advertising giant Google is still banking boatloads of ad cash, and plans to buy back billions in stock. The Mountain View goliath said its mobile advertising revenues were particularly strong over the previous three months, as it saw gains in the number of clicks on banners. Here are the top GAAP stats and facts …
I did not expect to find a single clear undisputed value because the catholic church has many large properties which are difficult to put a price on and plenty of people would like a large or small number to support their propaganda. I did see plenty attempts at passing off misleading numbers (both sides), and some (over simplified) ways to value unique property were not even mentioned, eg:
(Tourist revenue - maintenance)/(Competitive return on investment)
After a quick search, I can clearly state that over a decade ago the catholic church either had for more or far less value than the current market capitalisation of Google, depending on where you look and what currency they were using.
Has anyone seen convincing, clear and honest official numbers? I bet Tim Worstall could do an article that leads to a spectacular flame war.
You're absolutely right, it depends upon what you consider to be "wealth".
In theory, every church is owned by the Church. Which is a pretty big real estate portfolio. And I doubt there's a mortgage on much o it.
But a decent net value would try to take things like maintenance costs into account. And I very much doubt that any of them run at a profit on that basis. So maybe the net value of that real estate is negative?
They've been selling off real estate (actual churches) to raise cash to pay for the settlements and compensation for their members fiddling with the altar boys and other sins in decades past.
So their real estate is real money. They sell for high end of hundreds of thousands of dollars in these parts. One is now a pet food store (may not be directly related).
The news failed to turn heads on Wall Street one way or the other. Google stock was up by a modest 1.43 per cent at the end of the day, trading at $651.79 per share.
Erm. That happened before they released the results. The stock was up 10% after hours to $720, which I believe is an all-time high.
Sorry, typo. I never can get his name right without looking him up: Frederick J. Eikerenkoetter II
https://en.wikipedia.org/wiki/Reverend_Ike
BTW, I found the quote in 'Rolls Royce - The Complete Works' by Fox, Mike and Smith, Steve
(Faber, 1984). Good read. Hundreds of little anecdotes about Rolls-Royce Motorcars, their inventors and their Owners. Also a chapter on popular myths. Usually, the real stories are way cooler than the myths.
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