Michael Dell’s net worth sinks the most in a single day, falling by $11.7 billion after shares of his company suffer record selloff on weak revenue

Michael Dell's net worth fell by $11.7 billion to $107.1 billion after shares of Dell Technologies Inc. dropped by 18% due to disappointing quarterly results. Despite reporting its first quarterly revenue increase in two years, the company failed to meet high investor expectations for its AI server business. Almost half of Dell's fortune comes from the computer company he founded, with a significant portion also coming from his stake in Broadcom Inc., whose shares also fell.

Dell, the company's chairman and CEO, ranks 13th on the Bloomberg Billionaires Index. His fortune exceeded $100 billion in early March due to surging demand for AI computing equipment. Other tech billionaires, such as Nvidia Corp. co-founder Jensen Huang, have also seen their wealth increase due to the rally in AI-related stocks. Huang's net worth briefly surpassed $100 billion and currently stands at $96.3 billion.

Key takeaways

Michael Dell's net worth dropped $11.7 billion to $107.1 billion in a single day after disappointing investor results from Dell Technologies Inc.
The company's shares fell 18% in New York, marking the most significant drop on record.
Despite Dell Technologies reporting its first quarterly revenue increase in two years, it failed to meet high investor expectations for its AI server business.
Other tech billionaires, such as Nvidia Corp. co-founder Jensen Huang, have also seen their wealth fluctuate significantly due to the volatile AI-related stock market.

Michael Dell’s net worth sinks the most in a single day, falling by $11.7 billion after shares of his company suffer record selloff on weak revenue

Key takeaways

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