Michael Dell is a business tycoon who has a lot to do, however, he is most popular as the founder of Dell Computer Corporation, now known as Dell Technologies. Dell is one of the world’s leading manufacturers and distributors of personal computers (PCs).
Coming from a business family, it was natural for Michael to follow the business path. With his interest in technology, he left college to pursue his dreams as a PC maker. His dreams have been rewarded as he is now among the richest men in the world with a net worth of over $25 billion.
The biography of Michael Dell
He was born Michael Saul Dell on February 23, 1965 into a Jewish family. Michael Dell’s birthplace is located in Houston, Texas. He was born to a dentist father, Alexander, and a stockbroker mother, Lorraine Charlotte. It is made up of a family of four and his brother Adam R. Dell. Michael attended Herod Elementary School, Memorial High School, and the University of Texas at Austin for his elementary, high school, and college educations, respectively.
Dell grew up listening to his mother talk about economics and business affairs and being a smart and intelligent boy, he picked up his interest in economics and business as a teenager. His business acumen led him to sell stamp collections and subscriptions to the Houston Post, which earned him a whopping $18,000, a sum that was huge at that young age. Far from what children his age will do with such a sum, Michael has invested in stocks and precious metals.
Career
At the age of 15, he developed an interest in computers. He hid his first computer to learn how it worked. Years later, while studying as a doctor in college, he started an informal business of buying, upgrading, assembling, and selling IBM personal computers from his apartment. Dell was making over $80,000 from its customer base of mostly college students on campus. He would later establish a company providing a similar service of taking computer orders over the phone and selling them to customers.
Michael Dell’s interest in the IT industry was also thrilled when he attended the National IT Conference, where he met and spoke with IT experts to understand how the industry operates at the university. His passion drove him to drop out of college in 1984 to pursue his business, which led to the formation and registration of a computer company as PC’s Limited in January 1984 in Austin, Texas.
The company was renamed Dell ComputerCorporations in 1987 and was separated from a two bedroom apartment. At that time, the company was making huge profits selling computers, upgrade kits, and additional components, and it continued to skyrocket over the years. Dell’s belief was that it could provide low cost computers directly to customers, while offering unbeatable technical services.
In 1991, the company began manufacturing and selling its own personal computers when it moved into a 30,000 square foot condominium. Its marketing strategies are based on providing high quality products and treating customers like royalty. These tactics yielded huge results as the young company very quickly topped the list of Fortune 500 companies, a prestigious list of the largest American corporations with an annual profit of more than $6 million. Dell Inc. went public in 1988. Its initial public offering was $30 billion.
Like most successful entrepreneurs, where others saw closed doors, he saw open doors and opportunities. At a time when many of its competitors were moving away from online commerce, Dell saw the need for an online presence and launched its corporate website in 1994. In 1996, the company began making sales in line up to $1 million a day. $50 million a day.
Michael Dell is also credited with creating a less complex computer design with an improved microprocessor.
Foundation and achievements
Michael Dell is currently Chairman and CEO of Dell Inc. has been honored for his accomplishments including CEO of the Year Award by Financial World in 1993, Industry Week in 1998, and CEO of the Year Award in 2001, among other awards. Dell is also known for his philanthropy; He founded the Michael and Susan Dell Foundation in 1999, which provides education, health and financial stability to large numbers of people.
Net value
Michael Dell has carved a niche in the computer manufacturing and sales industry. He has several accomplishments credited to him. In 2013, he earned $13 million a month and was estimated at $15.3 billion. Over the years, his income has increased astronomically and according to a recent estimate (2018), he is worth $28.6 billion, which would make him the 39th richest man in the world.
Family life: wife and children
Dell has been happily married to his soulmate, SusanLynn Lieberman, since they tied the knot in October 1989. The couple met on a blind date and were love struck. Susan was impressed by his simple nature and decided to go out with him. She is a popular fashion designer who owns three fashion brands although she closed one in 2009.
Their marriage produced four beautiful children: Alexa, Kira, Juliette and Zachary. The billionaire is known to be very protective of his children. Some of his children have followed in his footsteps in the area of career choice, like Zach who started the dating app Thread, however, the app is no longer in use.
The family lives in Austin, Texas, in a 33,000 square foot home nicknamed The Castle due to its hilltop location and heavy security.