Ever wondered what Michael Dell’s current net worth in 2020?
|Net Worth:||$30 billion|
|Age:||55 years old|
|Born:||February 23, 1965|
|Country of Origin:||Houston, TX, United States|
|Height:||5 feet 10 inches|
|Source of Wealth:||Founder, chairman and CEO of Dell|
Michael Dell is an American businessman, philanthropist, investor, and author. He is well-known as the Founder and CEO of Dell Technologies.
In April 2020, Forbes ranked him as the 27th richest man in the world.
Michael Dell’s Personal Life
Michael Dell was born on February 23, 1965, in Houston, Texas, as Michael Saul Dell. His parents are Alexander and Lorraine Charlotte Dell. His father was an orthodontist, and his mother was a stockbroker.
He went to Herod Elementary School in Houston. In his desire to start a business early, he applied for a high school equivalency exam when he was 8 years old.
When he was a teenager, he took part-time jobs. He learned to invest his earnings in stocks and precious metals.
Michael’s first computer was an Apple II. He shared that he disassembled the computer right away to see how it worked.
Michael pursued a medical degree in college at the University of Texas. While he was on campus, he began to build upgrade kits for personal computers and started selling them. The business took off so well that he eventually dropped out and started his own computer repair business.
Michael married Susan Lieberman on October 28, 1989, and they have four children.
A Peek into Michael Dell’s Career
Michael started his own company in 1984 at the young age of 19 years old. His company was called “PC’s Limited” initially, but later in the year, he changed the name to “Dell Computer Corporation.” Back then, he only managed a few employees to take orders and upgrade basic machines.
Michael ran his business, focusing on making quality products and giving excellent customer service. These efforts paid off, and the company grew in just a few months.
In 1986, Dell produced the 12-megahertz 286 processor – a product that was considered to be the fastest personal computer at the time. He offered the product at a competitive price against a computer by IBM during that time. This contributed significantly to the company’s success.
At the age of 27, Michael was recognized as the CEO of one of the most successful companies globally, and his company was ranked in the 1992 Fortune magazine’s list of top 500 corporations.
In 1996, Dell launched its first servers and, eventually, their storage products.
By 1998, Michael founded MSD Capital LP, an investment company that helped him easily manage his investment activities. At the time, the Dell family was investing in real estate, security trades, and private equity activities. The firm has offices in New York, London, and Santa Monica.
In 1999, Michael and his wife, Susan, founded the Michael and Susan Dell Foundation. This charity supports different causes and provides grants.
In March 2004, Michael stepped down as CEO of Dell Inc. but stayed on as the board chairman. In 2007, the board requested that he take over again as CEO of the company.
In 2015, Michael purchased EMC Corp. This helped him establish Dell Technology, the largest private tech company in the world.
As of 2020, Michael Dell’s net worth is estimated at $30 billion.
- Founder, CEO, Chairman of Dell Technologies
- “Entrepreneur of the Year” from Inc. Magazine at the age of 24 years.
- “Top CEO in American Business” from Worth Magazine.
- “CEO of the Year” from the magazines Industry Week, Financial World, and Chief Executive.
- Franklin Institute Bower Award for Business Leadership.
- Member, US President’s Council of Advisors on Science and Technology
- In April 2020, Forbes ranked him as the 27th richest man in the world.
Favorite Quotes from Michael Dell
“Whether you’ve found your calling, or if you’re still searching, passion should be the fire that drives your life’s work.” – Michael Dell
“Ignore the people who tell you it won’t work and hire people who embrace your vision.” – Michael Dell
“Each day that you’re moving towards your dreams without compromising who you are, you’re winning.” – Michael Dell
“I do think a founder has special permission to make sweeping changes across an organization.” – Michael Dell
“Anything that can be measured can be improved.” – Michael Dell
Lessons about entrepreneurship from Michael Dell
After learning about Michael Dell’s net worth and how he became successful, here are some lessons you can takeaway to become successful yourself:
Find a target audience and stick to it
Businesses often fall into the mistake of trying to target everyone in their marketing and advertising efforts. It is a waste of time and money. You should find your target audience and create a campaign that especially relates and calls out to them. This creates more value for your company and increases the chances of making a sale.
Follow your passion
Michael has had an interest in computers at a very young age. However, his parents wished that he would become a doctor. Michael tried to pursue this and took up a pre-med course in college. However, Michael still managed to run a business. At the same time, he was a student, and seeing how successful he got, he decided to drop out and run a business instead.
Create your own path to success
Michael believes that your level of happiness affects your level of success. Comparing your progress to others will make you feel sad, inferior, or depressed since there will always be people who are doing better than you. He suggests entrepreneurs create their own path to success, this way, you get to grab opportunities the way you want to and live the life you choose.
Michael Dell is an American business executive and entrepreneur who is the brains behind Dell Technologies, a world leader in personal computers.
Michael Dell has an estimated net worth of $30 billion as of 2020.