In one day, Michael Dell’s wealth dropped by $11.7 billion

Michael Dell experienced the largest single-day decline in his wealth as the computer company he founded reported disappointing results, causing an 18% drop in Dell Technologies Inc. shares in New York. As a result, Dell’s net worth fell by $11.7 billion to $107.1 billion, marking the most significant decrease on record. Michael Dell’s wealth primarily comes from Dell Technologies Inc., a company he started over 40 years ago while studying at the University of Texas. His substantial stake in Broadcom Inc. also contributes to his net worth, despite recent declines in the company’s shares.

In early March, he joined the exclusive group of individuals with fortunes exceeding $100 billion, driven by the increasing demand for AI computing equipment, which pushed Dell’s shares to a record high. Over the past year, the stock has tripled in value. Similarly, other tech billionaires have seen a remarkable surge in their wealth due to the rapid rise of AI-related stocks. For example, Nvidia Corp. co-founder Jensen Huang briefly saw his net worth exceed $100 billion earlier this week following another exceptional quarter for the chipmaker.

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