Michael Dell Sells $1.22 Billion in Shares
Michael Dell Sells $1.22 Billion in Shares
Michael Dell Sells $1.22 Billion in Shares
News summary

Michael Dell, CEO of Dell Technologies, sold 10 million shares of his company for $1.22 billion on September 30, marking his second significant sale in the month. This follows a previous sale of another 10 million shares valued at $1.17 billion from September 19 to 23, reducing his holdings to over 16.91 million shares. Dell Technologies' stock has surged more than 58% this year, allowing the company to rejoin the S&P 500 after a decade-long absence, largely due to increased demand for servers needed for artificial intelligence applications. Despite these major sales, trading activity around the stock appears muted, with minimal price fluctuations noted. Dell's net worth has risen significantly, with his fortune reaching over $112 billion, making him the thirteenth richest person in the world. Speculation surrounds his stock sales and interests in cryptocurrencies, particularly following his cryptic posts earlier in the year regarding Bitcoin.

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