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.