Michael Dell's Net Worth Is $17.5 Billion
Michael Dell is an American investor, author and philanthropist. He is the founder, Chairman and Chief Executive Officer of Dell Inc., which is one of the leading sellers of PCs in the world. Dell has an estimated net worth of $17.5 billion, which makes him one of the wealthiest people in the United States, and in the world as well. In the year 2012, his 243.35 million shares of the company were worth $3.5 billion, which gave him a 12 per cent ownership of the company.
His remaining fortune of about $10 billion is invested in various other companies. The fortune is managed by MSD Capital, a firm that incorporates Dell’s initials. On 5th January, 2013, an announcement was made citing that Michael had bid to take Dell Inc. private. His $24.4 billion bid was considered to be the biggest leverage buyout since the Great Recession.
Michael Dell was born on 23rd February, 1965 in Houston, Texas to a Jewish family. His father, Alexander Dell, was an orthodontist, while his mother, Lorraine Charlotte, was a stockbroker. Michael bought his first calculator when he was only 7 years old. At the age of fifteen, he obtained an Apple II, which was his first computer. He joined the University of Texas at Austin, where he began an informal business while a freshman pre-med student.
He put together and sold upgrade kits for PCs from his dorm room. Shortly after, he applied for a vendor license in order for him to bid on contracts for the State of Texas. In the beginning of 1984, Michael Dell banked on his belief that the potential cost savings of a manufacturer selling PCs directly was of more advantage over the convectional indirect retail channel.
Dell registered his company in 1984 under the name ‘PC’s Limited’. He run the business out of a condominium, and he managed to sell between $50,000 and $80,000 in kits, upgraded personal computers, as well as in add-on components. After several months, Michael incorporated his company as “Dell Computer Corporation”, and shifted it to North Austin.
The corporation hired a number of people to fulfill them. In the year 1992, Michael became the youngest Chief Executive Officer of a company at the age of 27. In 1996 he began making computers available for sale over the web. The same year, the company launched its first servers. In the 1st quarter of 2011, the company reached a world market share of 12.8%, becoming the largest PC maker in the world.
Besides being a highly active businessman, Michael is also an avid philanthropist. In 1999, he launched the Michael and Susan Dell Foundation alongside his wife, Susan. The foundation focuses on a variety of causes, including family economics stability, childhood health, urban education and grants, among other causes.
The foundation has given over $65 million worth of grants to 3 health-related organizations that are associated with the University of Texas. The self-made billionaire is married to Susan Lynn Lieberman, with whom he has four children.