Money locked up in companies is managed at the leisure of its management, regardless of how good that might be for anyone else (ie. the shareholding owners). Money sitting there doing nothing is a poor use of it, so most companies are encouraged to run with only enough working capital to keep operations going.

It sounds weird, but this is better for shareholders and the economy (and companies can raise capital as needed down the line) than having all companies hold 3x the cash on the balance sheet.

The argument would be different for a foundation by wikipedia, albeit you still have problems between what the wikipedia management might want (high wages, little accountability) and everyone else.