Dell's $1.2 Billion Share Sale Boosts Wealth 2%

Michael Dell, the founder and CEO of Dell Technologies, recently sold $1.2 billion worth of shares in late June. This transaction, while significant, did not alter his position in the Bloomberg Billionaires list, where he remains at number 11. Dell's net worth now stands at $138 billion, just $1 billion behind Nvidia co-founder Jensen Huang, who has a net worth of $139 million.

Dell's sale of shares reduced his stake in the company by 3%, but it added a substantial amount to his personal wealth. On June 27, Dell was the 12th richest person in the world with a fortune of $135.4 billion. As of July 6, his wealth has increased to $138 billion, moving him up to the 11th position on the list. This shift is partly due to Bill Gates' decision to donate tens of billions of dollars to charity, which caused Gates to drop seven spots from his previous ranking.

Dell and Huang are both prominent figures in the technology industry, with Dell Technologies and Nvidia being key players in IT products and GPU manufacturing. The AI revolution has significantly boosted their fortunes, with Huang's wealth increasing by $24.8 billion and Dell's by $14 billion over the past year. Dell still holds a $39 billion stake in his company, estimated to be around 40% of the business, after selling 10 million shares. Dell Technologies' stock has risen more than 9% since late May, exceeding analysts' projected profit of $9.21 per share by hitting $9.40.

Huang, on the other hand, owns more than 800 million shares in Nvidia and sold $15 million worth last month. He plans to sell as many as 6 million shares worth $873 million by the end of the year. Nvidia's stock has also seen a significant increase, rising 9% this year and over 800% since December 2022. The competition between Dell and Huang to reach the top of the wealthiest list will depend on how their businesses perform and how they manage their shares.

Dell's decision to sell his shares is unclear, but last year he sold 20 million shares for $2.3 billion, his first sale since 1999. Other billionaires, such as Oracle co-founder Larry Ellison, have also seen significant wealth surges. Ellison's net worth increased by $40 billion in June, moving him to the second spot with a fortune of $250.9 billion. However, he has since been knocked down to third by Mark Zuckerberg, who has a slightly larger net worth of $254 billion.

The billionaires' list has seen fluctuations, with many enjoying a wealth surge in January. However, the entrance of AI revolutionary DeepSeek into the market has caused a significant drop in the wealth of America's richest tech titans. The battle for the top spots in the billionaires' club remains fierce, with fortunes rising and falling based on market conditions and personal decisions.