Last year, Apple was fined over $2.1 billion globally due to antitrust infractions. Remarkably, this amount corresponds to just a bit more than a week’s worth of their free cash flow.
The encrypted email service Proton has compiled its most recent Tech Fines Tracker, revealing that Google was the company with the highest fines, placing Apple in second place.
The tracker includes fines imposed for various legal infractions, primarily focusing on antitrust and privacy violations. In Apple’s situation, the fines likely pertain only to the former.
It’s important to note that Apple’s total does not factor in the $14 billion it was mandated to pay in back taxes to the Irish government, which does not constitute a penalty. The mistake lay with Ireland for offering a preferential tax arrangement; Apple simply acquiesced to it and was required to pay the typical amount of tax as if it were on par with other businesses in the nation.
Proton asserts that the fines imposed on major tech firms totaled over $8.2 billion. Although this figure is substantial by common standards, Proton observed that each of these firms could cover their fines with their free cash flow within a timeframe ranging from a single day to just over two weeks.
| Company | Total Fines 2024 | Time Required to Settle 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 imposed fines on major tech companies throughout 2024, while appearing significant, translates to less than three weeks of revenue for these entities. When examining free cash flow (the revenue minus unavoidable expenses), they would collectively require just 16 days and 21 hours to settle these fines if addressed simultaneously.
This year saw Google incur nearly $3 billion in fines, but it can clear this amount within less than three weeks of its operational revenue. Meta would take under two weeks to settle its $1.4 billion fines, while Amazon’s $57 million penalty is negligible—easily covered by a single day’s earnings.
Apple’s largest fine for the year was set at $2 billion by the EU for violating competition laws regarding music streaming.
Jurgita Miseviciute, Head of Public Policy at Proton, remarked: “Why would companies be concerned about fines for infractions that amount to a mere parking ticket for regular individuals? It is crucial for regulators to engage with big tech in a more impactful manner. Preventing theft requires more than mere light measures; we must foster a landscape where tech companies, regardless of their origin, can prosper without being obstructed by the industry leaders, and robust competition legislation and enforcement are essential. Merely imposing fines is insufficient; big tech must cease its anticompetitive practices.”
Proton sources its figures from credible news outlets and acknowledges that it’s feasible some fines might have been overlooked. Lawsuit settlements are not included unless a government entity is the plaintiff.
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Photo by Dmytro Glazunov on Unsplash
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