Almost half of Dell’s fortune comes from the Texas-based computer maker, which he started 40 years ago while a student at the University of Texas. Another major source of his net worth comes from his stake in Broadcom Inc, whose shares also slid on Friday.
Michael Dell’s wealth tumbled the most in a single day after the computer company he founded posted results that disappointed investors.
Dell’s net worth dropped US$11.7 billion to US$107.1 billion on Friday as shares of Dell Technologies Inc fell 18% in New York — the most on record. While the company reported its first quarterly revenue increase in two years, it wasn’t enough to impress investors with high expectations for its AI server business.
