Michael Dell loses $10 billion-plus in hours after Dell CEO sees biggest fall in a day in his fortune as …
Michael Dell’s net worth declined by nearly $10 billion in a matter of hours as Dell Technologies shares fell sharply on November 4. The billionaire CEO recorded one of the biggest drops in personal wealth for the day, while Meta CEO Mark Zuckerberg saw his fortune rise by around $3 billion. Dell’s net worth stood at $212.5 billion, marking a 5.5% decline for the day, according to Forbes’ Real-Time Billionaires list. Dell Technologies stock, on the other hand, fell more than 9%, triggering the steep drop in his fortune. In contrast, Mark Zuckerberg’s net worth rose to $216.6 billion, up around 1.5% as Meta shares gained. The company’s capital expenditure is projected to reach between $130 billion and $145 billion for the year, reflecting its efforts to expand AI capabilities and data center capacity.
Notably, only Elon Musk recorded a larger decline in wealth during the day. Technology stocks showed a mixed response to the election outcome. Amazon, Alphabet, Microsoft and Apple gained, while Dell, Nvidia, Tesla, SpaceX and SoftBank declined. Meta has been investing heavily in AI infrastructure.
The Facebook founder was among the top five wealth gainers on Wednesday afternoon, with investors responding positively to the US midterm election results.