![]() ![]() The venture's capitalization cost was $1,000. The company employed a few people as order takers, a few more to fill the orders, and, as Dell recalled, a manufacturing staff consisting of "three guys with screwdrivers sitting at six-foot tables". In May, Dell incorporated the company as "Dell Computer Corporation" and relocated to a business center in North Austin. Operating out of a condominium, the business sold between $50,000 and $80,000 worth of PC upgrades, kits, and add-on components. Dell’s strategy was to sell directly to customers by manufacturing computers only after they were ordered. In January 1984, Dell registered his company as "PC's Limited". In January 1984, Dell believed that the potential cost savings of a manufacturer selling PCs directly had enormous advantages over the conventional indirect retail channel. He then applied for a vendor license to bid on contracts for the State of Texas, winning bids by not having the overhead of a computer store. While a freshman pre-med student at the University of Texas, Dell started an informal business putting together and selling upgrade kits for personal computers in Room 2713 of the Dobie Center residential building. Business career A PC's Limited Turbo PC signed by Dell Michael Dell lecturing at the Oracle OpenWorld, San Francisco 2010 He hired several employees, and after earning a gross profit of nearly $200,000 in his first year of business, Dell dropped out of the University of Texas at age 19. After collecting the contact information of this population from public records, he sent direct mail appeals and earned $18,000 in one year. He discovered that people who were most likely to get a subscription were newlyweds and people moving to a new home. Dell continued learning to target specific populations for newspaper subscriptions rather than just making cold calls. Dell's parents wanted him to be a doctor and in order to please them, he took up pre-med at the University of Texas in 1983. ![]() Dell attended Memorial High School in Houston, selling subscriptions to the Houston Post in the summer. At age 15, after playing with computers at Radio Shack, he got his first computer, an Apple II, which he promptly disassembled to see how it worked. ĭell purchased his first calculator at age seven and encountered an early teletype terminal in junior high. In his early teens, he invested his earnings from part-time jobs in stocks and precious metals. In a bid to enter business early, he applied to take a high school equivalency exam at age eight. He would go on to attend Memorial High School. Michael attended Herod Elementary School in Houston. His parents were Lorraine Charlotte (née Langfan), a stockbroker, and Alexander Dell, an orthodontist. Early life and education ĭell was born in 1965 in Houston to a Jewish family. The company once again went public in December 2018. private for $24.4 billion in the biggest management buyout since the Great Recession. In January 2013 it was announced that he had bid to take Dell Inc. His remaining wealth of roughly $10 billion is invested in other companies and is managed by DFO Management, which incorporates his initials. In 2011, his 243.35 million shares of Dell stock were worth $3.5 billion, giving him 12% ownership of the company. He is currently the 16th richest person in the world according to the Bloomberg Billionaires Index, with a net worth of $70 billion as of September 2023. He is the founder, chairman, and CEO of Dell Technologies, one of the world's largest technology infrastructure companies. Michael Saul Dell (born February 23, 1965) is an American billionaire businessman, investor and philanthropist.
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