Michael Saul Dell better known as Michael Dell is a philanthropist and businessman from the United States. He is the founder, chairman, and CEO of Dell Technologies, one of the world’s major technological infrastructure firms. Dell is now a publicly-traded firm with annual revenue of more than $90 billion. As of this writing, Michael owns around 50% of Dell.
According to the Bloomberg Billionaires Index, he is the 23rd richest person in the world, with a net worth of $48.2 billion as of 2022.
Michael Dell Biography and Net Worth
|Net Worth $48.2 Billion|
|Full name Michael Saul Dell|
|Birth Date Feb 23, 1965|
|Age 57 years|
|Birthplace Houston, Texas|
|Occupation Entrepreneur, Businessperson|
|Spouse Susan Lynn Lieberman|
Michael Dell Early life
Michael Dell was born to a Jewish household in Houston on February 23, 1965. He attended Herod Elementary School in Houston for his primary education. He was a brilliant young boy who learned about finance from his stockbroker mother and acquired an early interest in the industry.
He was interested in technology during his adolescence and purchased his first computer when he was 15 years old and disassembled it. He began selling subscriptions to the ‘Houston Post‘ during the summer holidays and earned $18,000 in a year, which was more than some of his school teachers earned in a year.
He wanted to be an entrepreneur but his parents wanted him to become a physician, so he enrolled at the University of Texas at Austin in 1983.
From his living room, he began an unofficial business assembling and selling upgrade kits for personal computers. His business did very well, and he soon decided to drop college in order to dedicate more time to it.
Michael Dell Career
In January 1984, Michael Dell registered his company as “PC’s Limited.” In May 1984, he renamed the company Dell Computer Corporation. By this point, his company had grown to include a few people to collect and fill orders as well as upgrade basic machines.
Dell prioritized superior goods and excellent customer service, emphasizing customer focus. By 1985, the company was also designing and building computers using acquired components.
Dell debuted a 12-megahertz 286 CPU in 1986, making it the fastest personal computer at the time. The device received rave reviews, and the company’s revenues increased to $60 million that year. By 1992, the company had risen to the top 500 list of Fortune magazine. Dell was the CEO of one of the world’s most successful corporations at the age of 27.
Dell saw the necessity for an online presence in the 1990s and created www.dell.com in 1994. In 1995, online pricing was implemented, and by 1996, the company was generating online sales. Soon after, internet sales hit $1 million per day, rising to $50 million per day in 2000.
He also established MSD Capital L.P. in 1998 to oversee his family’s investing interests, which include publicly traded stocks, private equity, and real estate. Michael Dell stepped down as CEO of the company in 2004, but he remained chairman. At the request of the board, he returned as CEO in 2007.
In 2010, Dell Inc. agreed to pay a $100 million penalty to settle charges of accounting fraud filed by the Securities and Exchange Commission in connection with hidden payments from Intel Corporation.
Michael Dell Parents
His mother Lorraine Charlotte was a stockbroker, and Alexander Dell, his father was an orthodontist, were his parents. His only brother is Adam R. Dell, an American venture capitalist.
Michael’s Wife and children
Dell married Susan Lieberman on October 28, 1989, in Austin, Texas, and the pair has four children there.
Michael Dell’s Net Worth
According to the Bloomberg billionaire index, he is the 23rd richest person in the world with an estimated net worth of $48.2 billion. Although Michael Dell is one of the world’s wealthiest people, his fortune is not only connected to Dell Technologies. Michael’s personal worth is largely derived from his ownership of MSD Capital, a privately held investment firm.
Aside from Dell, MSD Capital has investments in real estate, private equity, stocks, bonds, and other areas. MSD Capital manages $16 billion in assets, nearly $12 billion of which come from Michael’s own fortune.
Michael Dell Properties
In February 2018, sources revealed that Dell paid $100.5 million for Manhattan’s One57 Penthouse in 2014, setting a record for the most expensive home ever sold in the city at the time. He paid $40 million for another penthouse at Boston Dalton Street, in 2017. Another home in Los Cabos, Mexico has been listed for $18.5 million and is reported to be exclusively for investment purposes.
Near 1996, Michael finished building a 33,000-square-foot mansion in Austin for his family. Michael has another unusual property, 6D Ranch, 12 miles from his Austin home, that appears to be dedicated completely to a handful of Arabian horses. Following the purchase of the Four Seasons Maui by MSD Capital in 2004, Michael Dell established himself on the Big Island of Hawaii’s Kohala coast with the purchase of another spectacular house.