The CEO of Dell Technologies, Michael Dell, has watched his fortune increase dramatically as the company’s market value reaches an all-time high.
According to Bloomberg estimates, Michael Dell has a net worth of $68.3 billion, making him the 18th richest person on the planet. After releasing better-than-anticipated financial results and outlook, the price of Dell Technologies stock increased by double digits on Friday.
Based on information available as of August 10, 2016, shares were up 24% at $69.67 late in the morning, setting a new record.
The stock is up 73% so far this year. Due to a wider variety of business clients and stricter pricing requirements, Dell can beat its PC rivals.
Dell has increased its prediction for this year in addition to its positive earnings report for the most recent quarter. The business now anticipates yearly revenue to fall between $89.5 billion and $91.5 billion, or 12%, on average, from last year.
Dell is also a shareholder of VMWAre Inc., which Dell spun off in 2021. The billionaire family office, MSD Capital, has offices in New York, Santa Monica, and West Palm Beach.
Michael Dell’s ownership of publicly traded computer product manufacturer Dell Technologies accounts for a sizable portion of his wealth.
According to the company’s 2023 proxy statement, Dell owns almost half of the business, including 32 million shares that his wife owns.
Through a special dividend, Dell Technologies finalized the spin-off of VMWare in November 2021. After the split, it will possess around 170 million shares of VMware according to Dell’s 2023 proxy statement.