American billionaire Michael Dell loses over $20 billion, slips to world's fifth-richest
Dell Technologies founder Michael Dell lost more than $20 billion on Wednesday as his company's shares fell 11%, dropping him to fifth on Forbes' ranking.
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Dell Technologies founder Michael Dell lost more than $20 billion on Wednesday as his company's shares fell 11%, dropping him to fifth on Forbes' ranking.
Michael Dell's fortune rose $8.7 billion to $280.6 billion on Tuesday as Dell Technologies shares gained 3.9%, leaving him $4.3 billion behind Larry Page.
Michael Dell's fortune fell $15.1 billion in a single morning as AI-linked stocks sold off worldwide. The cause was not Dell's business but a call from three AI chief executives for coordinated safety work, which investors took as a warning on future spending.
Michael Dell is now the world's third-wealthiest person on Forbes' ranking, ahead of Jeff Bezos for the first time. His fortune has more than doubled in a year on demand for AI server hardware.
Michael Dell has added $107 billion to his fortune this year, a gain second only to Elon Musk's, after Dell Technologies posted record quarterly results and its shares tripled on demand for AI servers. He now ranks fifth on the Bloomberg Billionaires Index.