On February 23 in the year 1965, one of the famous entrepreneurs in the technology industry was born in Texas, USA. His name is Michael Saul Dell, the founder of Dell Technologies and MSD capital. According to forbes.com, his net worth is $51.4 billion as of April 18, 2021.
Michael was the son of an orthodontist and a stockbroker. Wanting to be a doctor, he enrolled at University of Texas at Austin. While he was a student, he assembled and sold computers from his dormitory room. As his business expanded, he dropped out of school in his freshman year.
At the age of 19, Michael incorporated Dell Computer Corporation. Believing that he can offer products at lower cost by cutting the middlemen, Michael embarked on his business journey with a very lean organization. With a capitalization of $1,000, the business was up and running and was able to make $80,000 in upgraded PCs, kits, and add-on components during its first eight months.
In 1988, Michael listed the company in NASDAQ. Four years later, he became the youngest CEO of a Fortune 500 company. Ten years later, he formed MSD Capital to manage all of his businesses which include stakes in publicly traded securities and real estate. In 2001, Dell Computers became the world’s largest PC maker. He stepped down as CEO of Dell Computers in 2004 but returned at the request of the board of directors three years later. He took the company private in 2013. In 2016, the company acquired EMC Corporation in a deal worth $67 billion, the largest acquisition ever in the technology industry.
Michael has four children with his wife Susan. In 2020, Dell Technologies ranked #34 in the Fortune 500 List with revenues of $92.15 Billion and over 165,000 employees around the world.