Michael Dell
Michael Saul Dell, the founder of one of the world’s most profitable computer companies, was born on Feb. 3, 1965 in Houston. With an estimated net worth of $18 billion, Michael Dell was ranked fourth in Forbes Magazine’s annual Rich Americans List for 2005.
His interest for computers started at a very young age. In fact, when he was just 19 years old, Michael Dell chose to start his own computer business rather than to become a doctor and continue his studies at the University of Texas.
In 1984, Michael Dell started PC’s Limited in his university dorm room. With only $1,000 in his pocket, Michael Dell began to assemble his own computers by using stock computer parts. He then sold what he created directly to customers.
Michael Dell had built his computers according to each customer’s unique specifications. Apart from allowing his customers to customize their own computers, Michael Dell also offered to sell his computers at a much lower price than his competitors since he had no middlemen to pay commissions to and no stores to maintain.
By 1988, Michael Dell changed the name of his company from PC’s Limited to Dell Computer Corporation. The company had an initial public offering value of around $80 million.
A few years later, the Dell Computer Corporation was included among the Fortune 500 companies. So far, Michael Dell is the youngest chief executive officer to ever head a Fortune 500 company.
Eventually, the Dell Computer Corporation was renamed to Dell Inc. To date, Dell Inc offers a wide array of products ranging from personal devices to entertainment systems.
Having successfully turned a $1000 company into a $100 billion corporation, Michael Dell now takes some time to give back to the community. He allocates a fraction of his wealth to several philanthropic activities.