Michael Dell Net Worth 2022 (Forbes) – How Did He Get Rich? Exposed!

Michael Dell Net Worth

Michael Dell has an estimated net worth of $52.1 Billion. He helped launch the personal computer revolution in the 1980s with the creation of the Dell Computer Corporation, now known as Dell Inc. He earned the majority of his income from Dell.

Michael Dell was always fascinated by technology and gadgets. He bought an early Apple computer at the age of 15 in order to disassemble it and figure out how it worked. In college, he began building computers and selling them directly to customers, emphasizing strong customer service and lower prices. Dell was the world’s largest PC manufacturer.

To calculate the net worth of Michael Dell, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Michael Dell
Net Worth: $52.1 Billion
Monthly Salary: $100 Million+
Annual Income: $1.5 Billion+
Source of Wealth: Entrepreneur

Early Life

Dell was born in Houston, Texas, on February 23, 1965, and while his mother, a stockbroker, and father, an orthodontist, encouraged their son to pursue medicine, Dell showed an early interest in technology and business.

Dell, a hard worker, got a job washing dishes at a Chinese restaurant when he was 12 to save money for his stamp collection. A few years later, he honed his ability to sift through data to find new customers for Houston Post newspaper subscriptions, earning the high school student $18,000 in a single year.

Intrigued by the expanding world of computers and gadgetry, Dell bought an early Apple computer at the age of 15 with the sole intention of disassembling it to see how it worked.

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Dell Computer and Company

Dell discovered the niche that would become his boon in college. The PC industry was still in its infancy, and Dell realized that no company had attempted to sell directly to customers. Dell used $1,000 from his savings account to build and sell computers for people he knew from college, avoiding the middleman and markups. His emphasis, however, was not only on good machines, but also on strong customer service and lower prices. Soon after, he had accounts outside of school, and it wasn’t long before Dell dropped out and focused solely on his business.

The figures were astounding. Dell made $6 million in sales in 1984, his first full year in business. By the year 2000, Dell had become a billionaire, and his company had offices in 34 countries and over 35,000 employees. Dell Computer surpassed Compaq Computer as the world’s largest PC manufacturer the following year.

Overall, Dell’s first 20 years were among the most successful on the planet, surprising industry titans such as Wal-Mart and General Electric. Dell’s success story is so compelling that he wrote a best-selling book about it, Direct from Dell: Strategies That Revolutionized the Industry, in 1999.

Philanthropy

Dell has come out of his shell over the years, according to those who know him, thanks to his wife Susan, a Dallas native whom he married in 1989. The couple has four kids.

The Dells have demonstrated a willingness to share their wealth. The couple founded the Michael and Susan Dell Foundation in 1999, a large private charity that has given millions to causes and people such as tsunami victims in southern Asia. The foundation donated $50 million to the University of Texas in 2006.

“A bunch of guys sitting around deciding what we want done with our money after we’re dead, that’s not a very good idea,” he once said, explaining his early foray into philanthropy. “Forget about it. We’re going to get this right while we’re still here.”

Dell stepped down as CEO of the company in 2004, but remained chairman of the board. He was a member of the World Economic Forum’s Foundation Board and the International Business Council’s executive committee. He also served on the President of the United States’ Council of Advisors on Science and Technology, as well as the governing board of the Indian School of Business in Hyderabad.

Controversy

However, not everything has gone well for Dell or his company in recent years. Poorly constructed computers resulted in the company incurring a $300 million charge to repair the faulty machines, a huge problem for the company that resulted in Dell losing its top position in the industry. Dell returned as CEO in an attempt to correct things, but the results have been mixed.

Poor products continued to plague the company, and documents later revealed that employees were well aware of the issues affecting millions of its computers, despite Dell Computer’s efforts to downplay the issue.

Dell made headlines in July 2010 when he agreed to pay more than $100 million in penalties to settle charges of accounting fraud filed by the Securities and Exchange Commission. According to the charges, Dell Computer inflated its earnings statements by including rebates from chipmaker Intel that were given to the company to encourage it not to use Advanced Micro Devices chips in its computers and servers. Dell Computer allegedly misled investors about its actual earnings by padding its statements, according to investigators.

Dell announced in February 2013 that he would be taking his company private again in order to help rebuild the company he founded. He reached an agreement with Silver Lake Partners, a private equity firm specializing in technology, and Microsoft to launch a buyout of all outstanding Dell shares. This transaction has a value ranging from $23 billion to more than $24 billion, making it one of the largest buyouts in recent history.

Dell believes “this transaction will open an exciting new chapter for Dell, our customers, and team members,” according to Reuters. Many analysts share some of Dell’s enthusiasm, but believe the company faces significant challenges. Dell’s share of the PC market has declined in recent years, as has competition from tablet and smartphone manufacturers.

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Success Lessons From Michael Dell

1. Follow Your Dreams

Being a doctor is a great accomplishment; many people aspire to be one. But going after such ambition, when it isn’t your dream or passion, will only guarantee your financial security and not job satisfaction.

You will hate Mondays! You will wake up every weekday and dread going to work. Follow your dreams, and not only will you get good success, but you will have long lasting job satisfaction.

Anyone who is truly successful in any field loves what he is doing. You can’t become successful at a job that you hate.

2. Take That Leap

In the Jeff Bezos story we talked about Taking That Leap; however dark the environment may seem at first.

No real success can be achieved without a measure of courage. It takes courage to drop out of MED- school to pursue a career that hasn’t been thoroughly tested and trusted.

Today, the gains of that measure of courage are immense, and it ricochets all across the world. Take that leap of faith, if you fail, then you will have learnt something.

Remember a mind is expanded by learning, and once expanded it can never return to its original size.

3. Don’t Be Afraid To Be Different

In fact, look for ways to be different.

This particular point came up in Sam Walton’s story. Dare to be different. Dare to challenge conventional wisdom and way of doing things.

Ask, why is this thing done this way, and, why can’t it be done that way? The conventional practice during the early days of computer manufacturing was indirect retail trade, i.e., the use of middlemen.

Dell saw the immense profit that will be realized from selling directly to customers.

Not only will it cut away the middlemen, it would enhance customer relations. Most people will feel more comfortable buying directly from the manufacturer, it would be cheaper and they could also discuss any problems they might have. Hence, Dell’s company grew astronomically.

Favorite Michael Dell Quotes

“Each day that you’re moving toward your dreams without compromising who you are, you’re winning.”

 

“I do think a founder has special permission to make sweeping changes across an organization.”

 

“Ideas are a commodity. Execution of them is not.”

 

 “If you look at innovation, it doesn’t just occur in the lab.”

 

“It’s exciting to see how fast your kids learn and grow. I’m not too worried about them, particularly the ones who like to break rules and don’t follow instructions; those are the ones that will do just fine because they know what’s important to them.”

 

“We are all gifts to each other, and my own growth as a leader has shown me again and again that the most rewarding experiences come from my relationships.”

 

“It’s easy to decide what you’re going to do. The hard thing is deciding what you’re not going to do.”

Further Reading

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How To Become Rich Like Michael Dell?

Michael Dell did not become rich by luck. To become as rich as Michael Dell, you have to work smart.

Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.

Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.

You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Michael Dell one day.

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