Michael Dell net worth 2023: Michael Saul Dell is an American businessman and philanthropist. He is the founder, chairman, and CEO of Dell Technologies, one of the world’s largest technology infrastructure companies. He is ranked the 20th richest person in the world by Bloomberg Billionaires Index, with a net worth of $60 billion.
What is Michael Dell net worth?
|Net worth||$60 billion|
|Name||Michael Saul Dell|
|Occupation||businessman and philanthropist|
|Date of birth||February 23, 1965|
Michael Dell net worth 2023: Michael Saul Dell is an American billionaire businessman and philanthropist. He is the founder, chairman, and CEO of Dell Technologies, one of the world’s largest technology infrastructure companies. He is ranked 25th richest in the world by Bloomberg Billionaires Index, with a net worth of US$51.7 billion as of 2023.
Early life and education
Dell was born in 1965 in Houston. He attended Herod Elementary School in Houston. He would go on to attend Memorial High School. In a bid to enter business early, he applied to take a high school equivalency exam at age eight. In his early teens, he invested his earnings from part-time jobs in stocks and precious metals.
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Dell purchased his first calculator at age seven and encountered an early teletype terminal in junior high. At age 15, after playing with computers at Radio Shack, he got his first computer, an Apple II, which he promptly disassembled to see how it worked.
He got a job as a dishwasher at age 12 and was quickly promoted to maitre d’. Dell attended Memorial High School in Houston, selling subscriptions to the Houston Post in the summer. Dell’s parents wanted him to be a doctor and in order to please them, he took up pre-med at the University of Texas in 1983.
Dell continued learning to target specific populations for newspaper subscriptions rather than just making cold calls, and earned $18,000 that summer. He hired several employees, and after earning a gross profit of nearly $200,000 in his first year of business, Dell dropped out of the University of Texas at age 19.
While a freshman pre-med student at the University of Texas, Dell started an informal business putting together and selling upgrade kits for personal computers in Room 2713 of the Dobie Center residential building.
He then applied for a vendor license to bid on contracts for the State of Texas, winning bids by not having the overhead of a computer store.
Michael Dell net worth
In January 1984, Dell banked on his conviction that the potential cost savings of a manufacturer selling PCs directly had enormous advantages over the conventional indirect retail channel. In January 1984, Dell registered his company as “PC’s Limited”. Operating out of a condominium, the business sold between $50,000 and $80,000 worth of PC upgrades, kits, and add-on components.
In May, Dell incorporated the company as “Dell Computer Corporation” and relocated to a business center in North Austin. The company employed a few people as order takers, a few more to fill the orders, and, as Dell recalled, a manufacturing staff consisting of “three guys with screwdrivers sitting at six-foot tables”. The venture’s capitalization cost was $1,000.
In 1992, aged 27, he became the youngest CEO of a company ranked in Fortune magazine’s list of the top 500 corporations. In 1996, Dell started selling computers over the Web, the same year his company launched its first servers. Dell Inc. soon reported about $1 million in sales per day from dell.com.
In the first quarter of 2001, Dell Inc. reached a world market share of 12.8 percent, surpassing Compaq to become the world’s largest PC maker. The metric marked the first time the rankings had shifted over the previous seven years.
Michael Dell net worth
The company’s combined shipments of desktops, notebooks and servers grew 34.3 percent worldwide and 30.7 percent in the United States at a time when competitors’ sales were shrinking
In 1998, Dell founded MSD Capital L.P. to manage his family’s investments. Investment activities include publicly traded securities, private equity activities, and real estate. The firm employs 80 people and has offices in New York, Santa Monica and London. Dell himself is not involved in day-to-day operations.
On March 4, 2004, Dell stepped down as CEO, but stayed as chairman of Dell Inc.’s board, while Kevin Rollins, then president and COO, became president and CEO. On January 31, 2007, Dell returned as CEO at the request of the board, succeeding Rollins.
In 2013, Michael Dell with the help of Silver Lake Partners, Microsoft, and a consortium of lenders took Dell, Inc. private. The deal was reportedly worth $25 billion and faced difficulties during its execution. Notable resistance came from Carl Icahn, but after several months he stepped aside. Michael Dell received a 75% stake in the private company.
On October 12, 2015, Dell Inc. announced its intent to acquire the enterprise software and storage company EMC Corporation. At $67 billion, it has been labeled the “highest-valued tech acquisition in history”. The acquisition was finalized September 7, 2016.
Michael Dell Net Worth
As of 2023, Michael Dell net worth is $51 billion making him the 25th richest person in the world. Michael Dell has been honored several including; “Entrepreneur of the Year” (at age 24) from Inc. magazine; “Top CEO in American Business” from Worth magazine; “CEO of the Year” from Financial World, Industry Week, and Chief Executive magazines. Dell also received the 1998 Golden Plate Award of the American Academy of Achievement and the 2013 Franklin Institute’s Bower Award for Business Leadership.
Michael and Susan Dell established the Michael and Susan Dell Foundation, which focuses on, among other causes, grants, urban education, childhood health and family economic stability.
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