Michael Dell

Michael Dell
From Wikipedia, the free encyclopedia

Dell: founder, CEO, and chairman of Dell, Inc.
Born
February 23, 1965 (1965-02-23) (age 42)Houston, Texas, U.S.
Occupation
CEO, Dell, Inc.
Net worth
$15.8 billion (2007)
Spouse
Susan Dell
Children
4
Michael Saul Dell (born February 23, 1965, in Houston, Texas) is the founder and CEO of Dell, Inc.
Contents[hide]
1 Biography
1.1 Early life and education
1.2 Career
2 Dell's investment company
3 "Shut Down Apple"
4 Philanthropy
5 Wealth and Personal Life
6 References
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[edit] Biography

[edit] Early life and education
The son of an orthodontist, Dell was born in to an upper-class Jewish family and attended Herod Elementary School in Houston, Texas. Dell had his first encounter with a computer at the age of 15 when he broke down a brand new Apple II computer and rebuilt it, just to see if he could. Dell attended Memorial High School in Houston where he did not excel scholastically. During that time he did however exhibit formidable business instincts selling subscriptions for the Houston Post. Dell found $18,000 in an untapped customer base; those "windfall profits" earned him a BMW and a computer. [1] After graduating high school, he attended the University of Texas at Austin but abandoned that idea when he experienced early success in the area of computers and technology.

[edit] Career
While at the University of Texas at Austin, he started a computer company called PC's Limited in his room in Dobie Center [2]. The company became successful enough that, with the help of an additional loan from his grandparents, Dell dropped out of college at the age of 19 to run PC's Limited, which later became Dell Computer Corporation, then ultimately Dell Inc.
Over time, and despite a number of setbacks (including laptops that caught on fire in 1993, temporarily losing the consumer market to Gateway in the mid 1990s, and others), Dell survived the race to become the most profitable PC manufacturer in the world, with sales of $49 billion and profits of $3 billion in 2004. As Dell expanded its product line to more than computers, shareholders voted to rename the corporation Dell, Inc. in 2003.
On March 4, 2004, he stepped down as CEO of Dell but stayed as chairman of the board, while Kevin B. Rollins, then president and COO, became president and CEO. On January 31, 2007, Michael Dell was reinstalled as CEO of Dell, replacing Kevin Rollins (who resigned earlier in the day).[3]
Accolades for Dell include: "Entrepreneur of the Year" from Inc. magazine; "Man of the Year" from PC Magazine; "Top CEO in American Business" from Worth Magazine; "CEO of the Year" from Financial World and Industry Week magazines. At a speech before the Detroit Economic Club in November, 1999, Dell defined the "3 C's" of e-commerce (content, commerce, and community) while articulating his strategy for offering a superior customer experience online.[4]
In 2002 he received an Honorary Doctorate in Economic Science from the University of Limerick, in honor of his investment in Ireland and the local community along with his support for educational initiatives.[5]

[edit] Dell's investment company
In 1998 Michael Dell founded MSD Capital LP, a private investment firm, to invest in various small companies on Dell's behalf. According to reports, the firm tends to invest in "late stage" investments rather than early in a company's startup.

[edit] "Shut Down Apple"
Michael Dell had a public war of words with Apple CEO Steve Jobs, starting when Jobs first criticized Dell for making "un-innovative beige boxes". On October 6, 1997, when Michael Dell was asked what he would do if he owned then-troubled Apple Computer, he said "I'd shut it down and give the money back to the shareholders."[6] Michael would regret these words after Jobs returned as Apple CEO in 1998. By early 2006 Apple was worth more (based on market valuation) than Dell. By October 2007 Apple was worth more than twice Dell's value (AAPL:$160B - DELL:$62B). Michael resumed the CEO duties (replacing Kevin Rollins) at his troubled company in January 2007, and market value increased 11% in 9 months. During that same time Jobs' Apple increased its market value 92%, Michael Dell said in late January of 2007 that his company would be worth more than Apple by the end of the year. Michael Dell was also snubbed by Apple when he expressed his interest in bundling OS X with his computers, only to be told by Apple that they will not allow 'installing Mac OS X on a non-Apple computer, period.'

[edit] Philanthropy
On May 15, 2006, The University of Texas at Austin announced a $50 million grant from the Michael and Susan Dell Foundation to "bring excellence in children's health and education to Austin". The grant will enable the construction of 3 new facilities at the university. The first is the Dell Pediatric Research Institute which is expected to complement the new Dell Children's Medical Center nearby. The second is a new computer science building on the UT campus named Dell Computer Science Hall. The third is the Michael and Susan Dell Center for Advancement of Healthy Living, which is intended to address issues that affect healthy childhood development.[7]

[edit] Wealth and Personal Life
As of 2007, Forbes estimates Michael Dell's net worth at $15.8 billion, making him the 30th richest person in the world and the 9th richest American [8].
Dell currently resides in Austin, Texas with his wife, Susan, and their four children.[9] He has three daughters: Kira (15), Alexa (13), Juliette (10) and a son, Zachary (10).[10]
Dell owns one of the most expensive houses built in Texas, and he owns many Hummer cars.[citation needed]

[edit] References
^ Conde Nast Portfolio Executive Profile.
^ [1]
^ [2]
^ Dell, Michael. Building a Competitive Advantage in an Internet Economy (PDF). Retrieved on 2007-05-21.
^ http://www.ul.ie/main/news/dell.doc University of Limerick Press Release, 29 May 2002
^ CNet
^ Warden, Michael L. (2006). Michael & Susan Dell Foundation Grants $50 Million to University of Texas to Bring Excellence in Children's Health and Education to Austin. The University of Texas System - Press Releases. Retrieved on 2006-05-18.
^ http://www.statesman.com/business/content/business/stories/technology/03/09/9billionaires.html statesman.com
^ Biographical details and interview
^ http://philanthropy.com/free/articles/v18/i12/12000901.htm
[hide]
v • d • eDell, Inc.
Board of directors
Don Carty · Michael Dell · William H. Gray · Sallie Krawcheck · Alan Lafley · Judy Lewent · Tom Luce · Klaus Luft · Alex Mandl · Michael A. Miles · Sam Nunn
Desktop/Laptop Computers
OptiPlex · Dimension · Precision · XPS · Latitude · Inspiron · Vostro
Servers
PowerEdge · PowerVault · Dell/EMC
Other
Axim · Digital Jukebox (DJ) · Monitors · Dell On Call
Annual Revenue: $56.74 billion USD (2006) · Employees: 90,400 (2006) · Stock Symbol: NASDAQ DELL · Website: dell.com
Retrieved from "http://en.wikipedia.org/wiki/Michael_Dell"