Michael Dell No: 25 billionaire-2009
by saranya[ Edit ] 2010-03-08 15:49:34
Net Worth:$12.3 bil
Fortune:self made
Source
ell
Age:44
Country Of Citizenship:United States
Residence:Austin, Texas
Industry:Electronics
Education:University of Texas Austin, Drop Out,
Marital Status:married, 4 children
Computer king has lost millions buying shares of the company he founded 25 years ago. Bought up $200 million in Dell stock between July and September; shares down more than 60% since. Returned to chief executive post last year. Company hammered as cash strapped consumers and corporations wait for the recession to end before upgrading their computers; fourth quarter profits down 48%. Sales down 17%. Planning to reduce costs by $4 billion annually by 2011; caused ire in Ireland after relocating factory to cheaper Poland. Started selling PCs out of U. of Texas dorm room with $1,000. Built business with direct-sales method, public 1988. Majority of wealth invested via MSD Capital. Michael & Susan Dell Foundation supports education, health initiatives; endowment exceeds $1 billion.
