Braeburn Capital Inc.
TypeSubsidiary
IndustryAsset management
Investment management
FoundedOctober 3, 2005; 16 years ago (2005-10-03) in Reno, Nevada, United States[1]
Headquarters,
AUMUS$268.9 billion (2017)
ParentApple Inc.
Websitebraeburncapital.com (Redirects to Apple)

Braeburn Capital Inc. is an asset management company based in Reno, Nevada and a subsidiary of Apple Inc. Its offices are located at 6900 S. McCarran Boulevard in Reno.[2]

History

Apple created the company on October 3, 2005[1] to better manage its assets and to avoid certain California state taxes and taxes from other U.S. states totaling in millions of dollars.[3]

Capital

Apple's cash, and short-term and long-term investments
Year Value (billion USD)
2005 8.3
2006 10.1
2007 18.45
2008 24.49
2009 33.99
2010 51.01
2011 81.57
2012 121.25
2013 146.76
2014 155.24
2015 205.67
2016 237.59
2017 268.90
2018 237.10
2019 205.9
2020 191.8
2021 190.5

In 2012, Wall Street analysts calculated that Apple could earn up to $45.6 billion in fiscal year 2012, a record for any American business. By national and international diversions of revenues and many other legal methods, Apple stood to save billions of dollars in taxes.[3]

Name

The name Braeburn refers to a particular cultivar of apple. This is a play on the name of the parent company Apple Inc.[4]

Personnel

Mick Mulvaney's brother Theodore "Ted" Mulvaney is portfolio manager for Braeburn Capital.[5]

References

  1. ^ a b "Apple Takes Its Bankroll to Reno". Bloomberg.com. Bloomberg. April 5, 2006.
  2. ^ "Relax: Apple's Reno asset-management office is still here". Reno Rebirth. March 8, 2013. Retrieved August 24, 2013.
  3. ^ a b Duhigg, Charles; Kocieniewski, David (April 28, 2012). "How Apple Sidesteps Billions in Global Taxes". The New York Times.
  4. ^ University of Massachusetts Cold Spring Orchard page Archived January 12, 2012, at the Wayback Machine
  5. ^ "Apple's investment manager wrestles with $120bn problem". The Guardian. October 26, 2012. Retrieved December 9, 2021.