Who Is Michael Dell and What Is His Net Worth?
Michael Dell, the founder of Dell Technologies, has accumulated a net worth in the tens of billions of dollars.
Nov. 23 2020, Published 12:40 p.m. ET
Dell Technologies has created PCs that are in homes all across the U.S. As one of the most popular tech brands in the world, Dell Technologies has been around for less than 40 years. The brand was founded and created by Michael Dell. The company has made close to $1 trillion in sales as of May 2020, according to Forbes.
Michael Dell is still involved with the company that he created. He founded the company in 1984 and thanks to a merger in 2006, he created Dell Technologies. Forbes reported that Michael Dell has a net worth of $38.5 billion.
Who is Michael Dell?
Michael Dell, the chairman and CEO of Dell Technologies, founded the company back in the 1980s as PC's Limited when he was 19 years old. According to the timeline on the company's website, Dell was a college student at the time. He started the company with $1,000 in start-up capital.
Eventually, Michael Dell dropped out of school to fully devote himself to his new business. Dell Inc. was created when the company started selling more than just computers. The company sold storage devices, servers, software, and more. Later, the company became Dell Technologies after it merged with EMC Corporation in 2016.
After the first quarter ended in May 2020, Dell published better-than-expected results, which caused the stock price to rise by seven percent.
Does Michael Dell have a family office?
While there isn't a family office for Dell Technologies specifically, there are offices for MSD Capital. The private investment firm exclusively manages the Dell family's assets. It was established in 1988, but now has offices in New York City, Santa Monica, and West Palm Beach.
Where does Michael Dell live?
Part of Michael Dell's net worth is in real estate. The tech founder has homes across the country including in his home state of Texas, New York City, Boston, and Hawaii.
According to Fortune, Michael Dell's New York City home purchase was the most expensive apartment ever sold in the city. It's located on NYC's Billionaire's Row and cost him $100.47 million. The apartment features six bedrooms, six bathrooms, and is 10,923 square feet. Apparently, no other purchase in the area has ever cost more than $100 million.
Michael Dell's Austin home is massive
Mainly, Michael Dell resides in Austin. The home is 33,000 square feet and is known to locals as "the Castle," according to Business Insider. The home sits on a hilltop and features a tennis court, indoor and outdoor pools, and scenic views.
Michael Dell also owns a 6,380 square foot ranch house in the area. The family keeps Arabian horses there and uses the property for deer hunting.
Michael Dell purchased a resort in Boca Raton
In 2019, Michael Dell purchased the Boca Raton Resort and Club in Florida for $875 million. Forbes called the purchase "the biggest in Palm Beach County history," but that was the price as a whole. Reportedly, Michael Dell paid $462 million for the resort. The Premier Club cost him $285.3 million and an additional $22.9 million was for "reserves and closing costs."