Michael Dell has achieved a remarkable feat by entering the illustrious $100 billion club, riding high on the soaring shares of Dell Technologies Inc. (NYSE:DELL) following a stellar performance in its fourth-quarter earnings.
The stock of Dell Technologies skyrocketed to unprecedented levels, climbing by 32% after surpassing earnings projections in the recently disclosed fourth quarter. This surge catapulted Michael Dell’s net worth to an impressive $104.3 billion, firmly securing him as the 12th-richest individual globally, exceeding even the wealth of India’s Gautam Adani.
Exiting the fourth quarter with $7.37 billion in cash and equivalents, Dell Technologies also holds a long-term debt of $19.01 billion. Michael Dell’s fortune, which traces back to his pioneering computer-manufacturing venture established four decades ago, has experienced a substantial upswing due to the escalating demand for AI-related technology.
Of note, Dell Technologies’ cutting-edge servers such as the H100 and MI300X have gained recognition for their prowess in managing AI workloads, as highlighted by sources at Bloomberg.
Aged 59, Michael Dell now joins a select group of billionaires whose wealth has surged amidst the recent boom in AI-related stocks. Prominent figures in this trend include NVIDIA Corporation (NASDAQ:NVDA) founder Jensen Huang and Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg, both of whom have witnessed significant wealth expansions in recent times.
Michael Dell’s financial growth also received a substantial boost from his stake in chipmaker Broadcom Inc. (NASDAQ:AVGO), acquired following the company’s takeover of VMWare in 2021, now valued at over $31 billion. The recent upsurge in Dell Technologies stock is a testament to the market’s excitement over the company’s performance and its strong foothold in the AI sector.
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