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Meet Michael Dell, The Founder of Dell Inc, Who Started the Company from His College

Meet Michael Dell, The Founder of Dell Inc, Who Started the Company from His College

“Dell” is a well-known computer brand across the globe and Michael Dell is the founder, chairman and the CEO of the same. He is an American businessman and philanthropist who founded “Dell Technologies” during his college days. He has been ranked the 20th richest person in the world by ‘Bloomberg Billionaire Index and has a net worth of $60 billion as of February 2022. Even though he founded a well profitable company in college, he had to face great ups and downs keeping it afloat. Let’s get inspired from Michael Dell.

Quick Facts:

  • Name: Michael Saul Dell
  • Net Worth: USD 5, 360 crores (2022)
  • Occupation: Businessman and Philanthropist
  • Designations: Founder, Chairman, and CEO of Dell
  • Date of Birth: February 23, 1965
  • Age: 57
  • Place of Birth: Houston, Texas, United States
  • Marital Status: Married
  • Spouse’s Name: Susan Lynn Lieberman
  • Children: 4
  • Spoken Languages: English, Spanish
  • Hobbies: Technology and gadgets

Early Life:

Dell was born to a Jewish family in Houston in 1965. His parents were Alexander Dell, an orthodontist, and Lorraine Charlotte (née Langfan), a stockbroker. Houston’s Herod Elementary School was the name of his school. He eventually enrolled in Memorial High School. He applied to take a high school equivalency exam when he was eight years old in an effort to start his career right away. Early in his adolescence, he bought equities and precious metals using the money he earned from part-time work.

At the age of seven, Dell bought his first calculator, and in his junior year of high school, he used a teletype machine. He obtained his first computer, an Apple II, at the age of 15, after experimenting with computers at Radio Shack. He immediately disassembled the machine to see how it operated. Dell worked the summers selling Houston Post subscriptions while attending Memorial High School in Houston. Dell enrolled in pre-med at the University of Texas in 1983 because his parents wanted him to become a doctor and he did so to appease them.

Dell made $18,000 that summer by continuing to learn how to target particular communities for newspaper subscriptions rather than merely making cold calls.

Initial Career:

In 1984, Dell, then a student at the University of Texas in Austin, invested $1,000 to launch his computer company, which was first known as PCs Limited. By the second semester of his first year, Dell had sold PCs worth $80,000 in total. At the age of 19, he left college to focus entirely on running his business, which finally went public in 1988. When the product line was expanded to include items other than personal computers, PCs Limited eventually changed its name to the Dell Computer Corporation, and then to Dell Inc.

Goal:

The goal of Dell’s business strategy was to increase market share for personal computers by lowering prices, speeding up delivery, and offering top-notch customer support. To do this, he focused on direct sales outside of the typical retail venues and hired experienced executives to occupy positions in the business and serve as personal mentors. In 1992, Dell entered Fortune magazine’s list of the top 500 companies in the world, making him the youngest CEO in history to achieve this feat. Dell described the history of the firm’s growth in his book Direct from Dell: Ideas That Revolutionized an Industry (1999), which also offered strategies that could be used by any organisation.

In 2004, Dell retired as the company’s CEO, but he continued to serve as chairman of the board. He was a member of the International Business Council’s executive committee as well as the World Economic Forum’s Foundation Board. Additionally, he served on the board of directors at the Indian School of Business in Hyderabad as well as the United States President’s Council of Advisors on Science and Technology.

Setback:

Dell Inc. lost the title of largest PC maker in the world to Hewlett-Packard as a result of setbacks in 2006, including a recall of 4.1 million units and a reorganisation of the customer service division dealing with complaints. In response, Dell was rehired as CEO in 2007 to lead Dell 2.0, a comprehensive makeover of the business that saw him shift the emphasis away from personal computers and toward business software and services as well as other electronic products.

Overcoming:

Although the business was still having trouble, in 2013 Dell made plans to buy out investors and take the business private. Carl Icahn and other stockholders engaged in a contentious argument about the stock price. The computer company was eventually bought up by Dell and the investment firm Silver Lake Partners in 2013 for close to $25 billion. He supervised the $67 billion acquisition of EMC by Dell in 2016, which at the time was the biggest tech deal ever. With Dell as CEO, the publicly traded parent company Dell Technologies was established.

Personal life:

On October 28, 1989, Dell wed Susan Lieberman in Austin, Texas; the couple now resides there with their four kids.

Awards and Recognitions:

  • He has been awarded “Entrepreneur of the Year” award by Inc. magazine (at age 24)
  • Worth magazine named him “Top CEO in American Business,” while Financial World, Industry Week, and Chief Executive magazines named him “CEO of the Year.”
  • Additionally, Dell was honoured with the American Academy of Achievement’s 1998 Golden Plate Award and the Franklin Institute’s 2013 Bower Award for Business Leadership.
  • In addition to serving on the executive committee of the International Business Council, the governing board of the Indian School of Business in Hyderabad, India, the Foundation Board of the World Economic Forum, and the U.S. Business Council, he has been a member of the U.S. President’s Council of Advisors on Science and Technology.

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