On Friday, Michael Dell’s worth reached $100 billion for the first time. Dell Technologies Inc.’s fourth-quarter earnings were boosted by demand for AI equipment.
Dell’s share price surged 32% to a record high, increasing its founder’s net worth by $13.7 billion to $104.3 billion. According to the Bloomberg Billionaires Index, Dell is now the world’s 12th richest person, just ahead of Gautam Adani of India.
Approximately half of Dell’s riches stems from the Texas-based computer manufacturer, which he founded 40 years ago while still a student at the University of Texas at Austin.
Though primarily known for its PC business, Dell’s high-performance servers, such as the H100 and MI300X, have received notice for their ability to execute AI workloads. Dell, 59, is one of a small group of billionaires whose fortunes have risen this year as a result of the explosive rally in AI-related equities.Jensen Huang, founder of Nvidia Corporation, has seen a $28.4 billion increase in net worth, while Mark Zuckerberg’s fortune has increased by $52.1 billion.
Broadcom Inc. has contributed to Dell’s financial success. He obtained a stake in the company after it acquired VMware in 2021. These shares are currently worth more than $31 billion.