Michael Dell’s Net Worth Soars After Stock Market Gains—Closing The Gap With Google’s Larry Page

0:01Are you ever shopping online and suddenly a discount that helps you save pops up? It makes your day, sometimes even your week. Want that feeling month after month? Well, new customers who save by switching their home and auto insurance to Progressive save hundreds. Cue your happy dance. Get your quote today at Progressive.com. Progressive Casualty Insurance Company affiliates and other insurers not available in all states. Michael Dell's net worth briefly leapt by more than$10 billion in the hours after markets opened on Tuesday, placing him just behind Google co-founder Larry Page as the fourth wealthiest person in the world after the S &P 500 hit a fresh record amid a larger stock surge.

0:43Dell, who is the chairman, CEO and founder of Dell Technologies, now has a net worth of$280.6 billion as of early Tuesday afternoon. The billionaire's net worth jump by over 10 % on Tuesday morning coincided with a surge in Dell's share price that rose about 5 % before falling to place the billionaire's gains closer to$8.7 billion in the early afternoon. Dell also owned a significant stake in chipmaker Broadcom, which he acquired when Dell sold its software business VMware to the company in 2023, and Broadcom was also up about 4.4 % as of 12.30pm. Both companies are part of the S &P 500, which hit a fresh intraday record on Tuesday morning.

1:28Dell's fortune has risen rapidly this year as Dell's stock price has soared in recent months, building off strong demand for its servers from AI companies. Dell Technologies is currently up about 349 % year-to-date, which in turn has pushed the billionaire's fortune to new records. The billionaire began the year with about$191 billion, making him$95 billion richer today. In September, Dell briefly surpassed Page to become the second wealthiest person in the world, behind only Elon Musk. He was quickly passed, though, by Page again, and then Amazon founder Jeff Bezos, who is currently number two on the Forbes billionaire list.

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