Michael Dell’s fortune crested the $100 billion mark for the first time on Friday after Dell Technologies Inc.’s fourth-quarter earnings showed a tangible boost from demand for equipment assisting artificial intelligence.
Dell’s shares jumped 32% to a record high, boosting its founder’s net worth by $13.7 billion to $104.3 billion. Dell now ranks as the 12th-richest person in the world, according to the Bloomberg Billionaires Index, just ahead of India’s Gautam Adani.
Roughly half of Dell’s fortune comes from the Texas-based computer-maker, which he started 40 years ago when still a student at the University of Texas at Austin.
Though best known for its PC business, Dell’s range of high-powered servers such as the H100 and MI300X have drawn attention for their capabilities running AI workloads. Dell, 59, is one of a handful of billionaires whose wealth has skyrocketed this year due to the blistering rally in AI-related stocks. Nvidia Corp. founder Jensen Huang’s net worth has jumped by $28.4 billion while Mark Zuckerberg’s fortune is up by $52.1 billion.
Dell’s wealth has also received a boost from chipmaker Broadcom Inc. He received a stake in the business after it bought VMWare in 2021. Those shares are now worth more than $31 billion.
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
