DEFINITION of 'Michael S. Dell'

Michael S. Dell was the long-time CEO and chairman of Texas-based computer company, Dell Computer. Michael Dell is best known for the computer company he started in 1984 under the name PCs Limited and which now bears his name. The company grew rapidly and competed heavily with IBM, becoming a Fortune 500 company in 1992. Michael Dell has been named to the Forbes lists of the world's richest people and was once one of America's highest-paid CEOs.

Forbes lists Michael Dell's net worth as of 2018 at $23.5 billion, making him one of the wealthiest men in America. In February 2018, it was reported that in 2014, Dell had paid $100.5 million for Manhattan's "One 57" penthouse apartment, which holds the record for the most expensive home ever sold in New York City.

BREAKING DOWN 'Michael S. Dell'

Michael Dell was born on February 23, 1965 in Houston, Texas. While an undergraduate at the University of Texas at Austin, Dell began tinkering with earning money from computers by offering upgrade kits for sale from his dorm room. In 1984, Dell opened his own business, originally called PCs Limited, with the aim of building customized personal computers that had enormous cost savings over traditional retail channels for producing and selling computers at the time. In 1992, at age 27, he became the youngest CEO of a company ranked in the Fortune 500.

His company, Dell, distinguishes itself from other computer manufacturers by allowing customers to order computers with customized specifications directly from the company rather than purchasing premade computers off the shelf in retail stores. It also developed a strategy to limit the company's inventory so it could rapidly and profitably adapt to changing technology. This business model allows Dell to be highly competitive both in price and in customer service. His success allowed him to create the Michael and Susan Dell Foundation with his wife in 1999 to improve the health and education of children living in urban poverty in the United States, South Africa and India.

On October 12, 2015, Dell Inc. announced its intent to acquire the enterprise software and storage company EMC Corporation. At $67 billion, it had at the time been labeled the "highest-valued tech acquisition in history."

Michael Dell is also well known for his philanthropic work, with a personal charitable foundation focused on urban family and childhood education and financial stability.

Dell married Susan Lieberman on October 28, 1989, in Austin, Texas; the couple reside there with their four children.

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