Some have rainy day savings. Google has government investigation payoff savings. The search engine giant reported setting aside $500 million in anticipation of the results of a government investigation currently under way.
The company said it put aside the money in connection with a Department of Justice investigation of the company’s advertising scheme, but further details are sparse. It is unclear what the money would actually be used for, and neither Google nor the Department of Justice elaborated on the exact matter being investigated. If the rest of the world’s ire is any indication, advertising practices that employ information gathering and alleged anti-competitive measures are likely central to the controversy.
The news of Google’s $500 million provision comes just after the company, along with Apple, defended their information gathering practices at a Senate hearing.