Billionaire Obama donor made a fortune through ... outsourcing

The company’s profits jumped from $1.6 billion in 2009 to $4.3 billion in 2011, an increase of nearly 300 percent.

During that same period, the San Diego-based firm increased its number of properties owned or leased outside the United States from 70 to 99, according to documents filed with the Securities and Exchange Commission. During that time, the company pared down its U.S. property holdings from 76 to 73.

Qualcomm announced in 2011 that it planned to invest $1 billion to build a massive manufacturing facility in Taiwan. The move was unsurprising, given that the company generates most of its revenue overseas, particularly from sales in South East Asia.

Like a number of U.S.-based corporations, Qualcomm has substantial cash holdings in offshore accounts. As of 2012, the company had about $16.5 billion in offshore cash.