Michael Dell, founder and CEO of Dell Technologies, sold 10 million shares of his company for a huge $1.22 billion. This made him news again. He sold a lot of stock twice in September. A report made with the U.S. Securities and Exchange Commission on September 30 says Dell still has more than 16.91 million shares, which are worth more than $2 billion.
Dell sold another 10 million shares, worth about $1.17 billion, in the first half of the month, from September 19 to September 23. After that, this sale. Dell Technologies’ stock price is still high, even with these big sales. This year, it’s gone up 58.5%, and on September 24, it got back into the S&P 500. This shows how the company has grown as more people want technology that uses AI.
More and more people are interested in artificial intelligence (AI), which has been great for Dell Technologies. This year, the stock of the company has grown very quickly. This is because more people want computers that can run AI apps. The stock of the tech company reached an all-time high in May. This was a big deal because people all over the world wanted AI gear.
Michael Dell sold a lot of his interests, and the market still hasn’t really reacted to it. It’s also still not clear why he did it. When the market closed on September 30, the price of the stock only went down by 0.33%. It has gone up by 0.74% in the last five business days, though.
A lot of people are interested in cryptocurrencies now that Michael Dell has sold some stocks and shared some strange things on social media. The post that Dell made in June said, “Scarcity creates value.” This saying is often used to talk about how there are only 21 million Bitcoin coins in circulation. This made people think that Dell might be interested in Bitcoin, either personally or through his business. Dell made even more noise when it shared a message from Michael Saylor, co-founder of MicroStrategy. Saylor talked about Bitcoin as “Digital Scarcity” and shared an AI-made picture of Cookie Monster eating themed cookies with Bitcoin on them.
A lot of people use Bitcoin online, but Dell Technologies hasn’t added it to its business balance sheet yet. The most recent quarterly report from the company makes this clear: sales went up 9% year over year. Another area of the company that saw record growth was computers and networking. Sales were up 80% from the previous year.
People are always interested in what Michael Dell does with his business, like when he sells stock or shows interest in cryptocurrency. A lot of people in tech and finance want to know what the tech mogul will do next.
