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Nvidia grabs AI headlines; Michael Dell reaps the billionaire reward
Michael Dell surpasses Jeff Bezos as world's third-richest person, with $276.5 billion, as Dell shares climb.
13/09/2026 21:119 min read
Back in 1988, a Dell secretary could build a fortune on company stock. By 2026, the shares have climbed roughly 350%, yet almost all of that wealth accrues to one individual.
The man in question is Michael Dell. This week, he surpassed Jeff Bezos to become the third-richest person globally, Forbes estimating his fortune at $276.5 billion.
Nvidia creates the AI brains; Dell constructs the boxes around them.
Nvidia produces the processors that power artificial intelligence. Dell integrates those chips into metal enclosures and dispatches them.
Nvidia operates the far superior business. It earned $96.2 billion in revenue last quarter, retaining 75 cents on each dollar. Dell reported $47 billion and kept 21 cents per dollar, despite its AI server sales having doubled.
Still, Nvidia founder Jensen Huang's net worth stands at $189.1 billion. That leaves him $87 billion behind the man who assembles the hardware.
JUST IN: Michael Dell surpasses Jeff Bezos to become the world’s third-richest person, as Dell shares soar to record highs. pic.twitter.com/zWaAB23GWR
— Polymarket (@Polymarket) September 12, 2026
The explanation is straightforward. Huang holds roughly 3% of Nvidia. Michael Dell controls approximately 40% of Dell. For months, investors have been searching for winners beyond Nvidia. But they were focusing on the wrong figure.
The Buyout That Excluded Everyone Else
He holds such a large stake because he repurchased his own company.
In February 2013, Michael Dell initiated a move to privatize the firm. Silver Lake assisted with the financing. By October, public shareholders received $13.88 per share and were ushered out.
Two days following his announcement, Texas Monthly published an article on the historical performance of Dell stock. It tallied approximately 2,700 employee millionaires in Austin, known locally as Dellionaires. Secretaries had become wealthy.
The current rally operates differently. The profits accumulate in a single location.
Some analysts remain skeptical that the boom is profitable. BeInCrypto questioned the margins ahead of the earnings that triggered this surge.
“It becomes a problem if it becomes that we’re really not adding to the bottom line at all,” Fortune cited senior analyst James Fish of Piper Sandler.
Currently, Dell's net worth exceeds Bezos by roughly $3 billion. Monday's trading might reverse that. But it cannot change who controls the company.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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