The owner of Google opted to bail out with $70 billion in stock
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| The owner of Google opted to bail out with $70 billion in stock |
Alphabet, Google's parent company, stated that its board of directors has approved a $70 billion stock repurchase program from investors.
The IT behemoth has made the critical decision to accelerate its buyback program, which would return capital to shareholders.
When choosing whether to buy back shares, Alphabet said it will assess the price of the securities as well as market conditions.
Except for Apple, Alphabet bought back more of its own shares ($50 billion) in 2021 than any other public corporation.
The board had only approved $25 billion in stock acquisitions a year before.
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