The fabulous life of Michael Dell, the $108 billion tech icon betting big on AI

Michael Dell dropped out of college after starting his computer company.

John Locher/AP

Michael Dell is one of the world’s wealthiest people, with a net worth of more than $100 billion.
The Dell Technologies founder made his fortune by democratizing the PC and striking shrewd deals.
Here’s a look at his background, career, and how he spends his fortune.

Michael Dell, the tech entrepreneur who helped bring the personal computer to the masses, ranks among the world’s wealthiest people with a net worth of $108 billion, per the Bloomberg Billionaires Index.

From his early career as one of the youngest CEOs of a Fortune 500 company until now, Dell is used to getting his way. He was only 23 when his company had its IPO in 1988. Dell took the PC maker private in 2013 only to relist it five years later, and has now shifted the company’s focus toward serving the artificial intelligence boom.

Dell lives the extravagant life of a successful business figure as well, complete with all of the private planes, summer homes, and sweet rides you’d expect from a billionaire.

Michael Dell was born on Feb. 23, 1965, in Houston, Texas.

Facebook.com/michaelsdell

After figuring out how to target an untapped customer base, he made $18,000 in just one year.

Source: Academy of Achievement

Though he was really only interested in computers, Dell entered the University of Texas at Austin as a pre-med student in 1983.

Twitter/Michael Dell

Dell used the statement to convince his parents that he didn’t have to go back to college.

He sold nearly $1 million worth of computers and, after paying salaries and expenses, made over $198,000 in gross profit.

He officially launched his company in 1984, under the name PC’s Limited.

Rebecca McEntee / AP Images

It went public in 1988, raising $30 million. Dell made about $18 million from the deal, and by 1992, the 27-year-old CEO was the youngest person to lead a Fortune 500 company.

Source: Entrepreneur, Academy of Achievement

In 1988, he went on a blind date with Susan Lieberman, a fashion designer from Dallas.

AngelList

In 2014, at age 17, Zach cofounded his own dating startup Thread. Thread later became a photo-sharing app but is no longer around.

The family’s 33,000-square-foot home outside Austin is called “the Castle” because of its hilltop perch and heavy security presence.

6D Ranch

White Construction/Architect: Gwathmey Siege

Source: Mother Jones, The Nation

The Dell family has spent vacations at the “Raptor Residence,” a seven-bedroom, 18,500-square-foot compound in Kukio, Hawaii.

Four Seasons Hotels

Dell started MSD Capital in 1998 to manage his family’s wealth. The firm has made investments in a number of companies, including IHOP and Applebee’s parent company, apparel company Phillips-Van Heusen, and offshore oil drilling company Independence Contract Drilling.

Source: Bloomberg, Pitchbook , SEC filings .

Through MSD Capital, Michael Dell also invested in real estate in Hawaii, Mexico, and California.

Dave Pinter/Flickr

His car collection at one point included a 2004 Porsche Boxster, a Porsche Carrera GT, and a Hummer H2.

Source: MSN

He’s also owned private jets including a Gulfstream V.

Michael Dell and Marc Benioff

Fitbit

Salesforce CEO Marc Benioff is a particular buddy. The two of them did a public Fitbit walking challenge in 2014 and Benioff’s team won. But Dell is so competitive (and also a fitness fanatic), that Benioff jokingly suspected that Dell put his Fitbit on his dog to help him score more steps.

Source: Fitbit, Business Insider

CEO to chairman and back again

EMC CEO Joe Tucci shaking hands with Michael Dell.

Dell

The financing of a deal this huge was complicated, and at first, skeptics thought it would fall apart, citing everything from tax complications to pushback from investors in VMware, a company EMC mostly owned.

Dell didn’t lose.

Justin Sullivan/Getty Images

Dell shares have soared from below $34 in September 2022 to around $115, valuing the company at about $82 billion.

The stock surge likely reflects the company’s pivot to providing a broad suite of AI solutions to corporations, selling everything from servers and data storage to AI PCs, networking, and services.

Dell trumpeted AI’s potential in an interview published this September, saying it would “accelerate and advance scientific discovery” and “make humans happier, healthier, and more successful.”

“I’m incredibly excited about it,” he added. “As with any new thing, there are all sorts of uncertainties and questions, including how’s it all going to happen. Nobody knows, and we love being in the middle of it.”

Source: McKinsey

Dell’s net worth has soared to more than $100 billion.

Michael Dell

Tony Avelar/AP Images for Dell Inc.

Dell’s surging stock has supercharged its founder’s net worth, raising it from about $45 billion two years ago to $108 billion.

Dell is now one of the dozen or so centibillionaires, and ranks 13th on the Bloomberg Billionaires Index.

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source:https://www.businessinsider.com/life-of-michael-dell-2016-9