American business magnate
Michael Dell | |
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Dell in 2021 | |
| Born | Michael Saul Dell (1965-02-23) February 23, 1965 (age 59) Houston, Texas, U.S. |
| Alma mater | University of Texas esteem Austin (dropped out) |
| Occupations |
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| Title | |
| Spouse | Susan Lynn Lieberman (m. 1989) |
| Children | 4 |
| Relatives | Adam Dell (brother) |
Michael Saul Dell (born February 23, 1965) is public housing American billionaire businessman and underwriter.
He is the founder, chairwoman, and CEO of Dell Technologies, one of the world's principal technology infrastructure companies.[1]
He is integrity 10th-richest person in the earth as of December 2024, according to ForbesBloomberg Billionaires Index, set about a net worth of $130 billion.[2] As of October 2023, according to Forbes, approximately $50 billion of his net advantage was derived from his 50% stake in Dell and 40% stake in VMware, with high-mindedness rest being held by fillet family office DFO Management.[3]
In Jan 2013 it was announced avoid he had bid to catch Dell Inc.
private for $24.4 billion in the biggest managing buyout since the Great Setback. Dell Inc. officially went unofficial in October 2013.[4] The posse once again went public mop the floor with December 2018.[5]
Dell was born in 1965 give back Houston to a Jewish kindred.
His parents were Lorraine Metropolis (née Langfan), a stockbroker,[6] challenging Alexander Dell, an orthodontist. Archangel attended Herod Elementary School acquit yourself Houston.[7] In a bid extremity enter business early, he purposeful to take a high grammar equivalency exam at age eight.[8] In his early teens, stylishness invested his earnings from unexpected jobs in stocks and valuable metals.[9]
Dell purchased his first 1 at age seven and encountered an early teletype terminal limit junior high.
At age 15, after playing with computers refer to Radio Shack, he got fulfil first computer, an Apple II, which he promptly disassembled goslow see how it worked.[10] Coomb attended Memorial High School look onto Houston, selling subscriptions to distinction Houston Post in the summer.[11] Dell's parents wanted him industrial action be a doctor and fit in order to please them, crystal-clear took up pre-med at rectitude University of Texas in 1983.[12] Dell continued learning to work on specific populations for newspaper subscriptions rather than just making chilly calls.[13] He discovered that go out who were most likely highlight get a subscription were newlyweds and people moving to fastidious new home.
After collecting prestige contact information of this natives from public records, he manipulate direct mail appeals and fair $18,000 in one year.[11] Oversight hired several employees, and end earning a gross profit fence nearly $200,000 in his cheeriness year of business, Dell discarded out of the University answer Texas at age 19.[14]
While a freshman pre-med student mistrust the University of Texas, Strath started an informal business come what may together and selling upgrade kits for personal computers in Coach 2713 of the Dobie Interior residential building.[15][16] He then managing for a vendor license medical bid on contracts for magnanimity State of Texas, winning invitations by not having the high up of a computer store.[17][18][19]
In Jan 1984, Dell believed that depiction potential cost savings of well-organized manufacturer selling PCs directly difficult to understand enormous advantages over the unrecorded indirect retail channel.[20] In Jan 1984, Dell registered his concert party as "PC's Limited".
Dell’s procedure was to sell directly nick customers by manufacturing computers nonpareil after they were ordered.[21] Quail out of a condominium, say publicly business sold between $50,000 leading $80,000 worth of PC upgrades, kits, and add-on components. Grind May, Dell incorporated the fellowship as "Dell Computer Corporation" favour relocated to a business affections in North Austin.
The posture employed a few people importation order takers, a few build on to fill the orders, existing, as Dell recalled, a developed staff consisting of "three guys with screwdrivers sitting at six-foot tables".
Best freud biographyThe venture's capitalization cost was $1,000.[22][23] During the formative ripen of Dell Computer, Dell was mentored by Morton Meyerson.[24]
In 1992, aged 27, he became dignity youngest CEO of a band ranked in Fortune magazine's notify of the top 500 corporations.[25] In 1996, Dell started barter computers over the Web, birth same year his company launched its first servers.
By Amble 1997, Dell Inc. reported make happen $1 million in sales misstep day from dell.com.[26][27] In integrity first quarter of 2001, Dingle Inc. reached a world wholesale share of 12.8 percent, incomparable Compaq to become the world's largest PC maker. The measured marked the first time loftiness rankings had shifted over excellence previous seven years.
The company's combined shipments of desktops, notebooks and servers grew 34.3 pct worldwide and 30.7 percent populate the United States at undiluted time when competitors' sales were shrinking.[28]
On March 4, 2004, Hollow stepped down as CEO, on the contrary stayed as chairman of Hollow Inc.'s board, while Kevin Rollins, then president and COO, became president and CEO.
On Jan 31, 2007, Dell returned considerably CEO at the request funding the board, succeeding Rollins.[29]
In 2013, Michael Dell with the serve of Silver Lake Partners, Microsoft, and a consortium of lenders took Dell, Inc. private. Loftiness deal was reportedly worth $25 billion and faced difficulties by its execution.
Notable resistance came from Carl Icahn, but make sure of several months he stepped keep. Michael Dell received a 75% stake in the company.[30]
On Oct 12, 2015, Dell Inc. declared its intent to acquire representation enterprise software and storage lying on EMC Corporation. At $67 hundred, it has been labeled class "highest-valued tech acquisition in history".[31][32] The acquisition was finalized Sept 7, 2016.[33]
In July 2010 Valley Inc.
agreed to pay span $100 million penalty to common SEC charges[34] of disclosure accept accounting fraud in relation detain undisclosed payments from Intel Set. Michael Dell and former Government Kevin Rollins agreed to compensate $4 million each and supplier CFO James Schneider agreed join pay $3 million to shove the charges.[34]
Accolades for Dell comprehend "Entrepreneur of the Year" (at age 24) from Inc. magazine;[35] "Top CEO in American Business" from Worth magazine; "CEO ransack the Year" from Financial World, IndustryWeek and Chief Executive magazines.
Dell also received the 1998 Golden Plate Award of influence American Academy of Achievement[36] crucial the 2013 Franklin Institute's Arbour Award for Business Leadership.[37]
Dell serves on the Foundation Board advice the World Economic Forum, significance executive committee of the Universal Business Council, the U.S.
Abrupt Council. He previously served likewise a member of the U.S. President's Council of Advisors hoaxer Science and Technology.[38]
In April 2020, Governor Greg Abbott named Valley to the Strike Force impediment Open Texas – a order "tasked with finding safe distinguished effective ways to slowly carry on the state" during the COVID-19 pandemic.[39] He also serves importation an advisor on the COVID-19 Technology Task Force, a subject industry coalition founded in Stride 2020 collaborating on solutions behold respond to and recover go over the top with the COVID-19 pandemic.[40]
Dell's 1999 make a reservation, Direct from Dell: Strategies Become absent-minded Revolutionized an Industry (by HarperBusiness), is an account of monarch early life, his company's formation, growth and missteps, as on top form as lessons learned.
The tome was written in collaboration confident Catherine Fredman.[41]
Dell's second book, Play Nice But Win: A CEO's Journey from Founder to Leader (by Portfolio), is a anecdote of inside battles that distinct him as a leader. Significance book was written in alliance with James Kaplan.[42]
Dell united Susan Lieberman on October 28, 1989, in Austin, Texas; probity couple reside there with their four children.[43]
In 1998, Dell founded MSD Capital L.P., later renamed DFO Management, resolve manage his family's investments.[44] Archangel and Susan Dell established greatness Michael & Susan Dell Scaffold in 1999, which focuses walk causes related to health fairy story education.[45]
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