Michael Dell net worth falls by $20 billion amid Dell Technologies stock slump

Michael Dell’s net worth decreased by more than $20 billion on Wednesday, causing him to fall from the position of fourth-wealthiest person in the world to fifth. The decline follows a significant drop in Dell Technologies share prices, which fell 11.1% shortly before market close. This downturn occurred after Barclays downgraded the stock from overweight to equal-weight.

Dell’s estimated net worth now stands at $256.6 billion, placing him behind Google co-founder Sergey Brin, whose wealth also saw a decline. Dell currently holds a narrow lead over Meta’s Mark Zuckerberg, whose net worth is estimated at $253.1 billion.

The stock slump coincided with broader market declines following the release of inflation data that exceeded estimates. Despite the recent volatility, Dell’s wealth has seen massive growth over the past year, driven by high demand for data center equipment and servers used in artificial intelligence applications.