Michael Dell unloads $465 million of shares after record high

Dell’s chief executive officer has been selling on a near daily basis since March 6 and has now disposed of more than 4 million shares worth about $465 million, according to Bloomberg calculations.

Michael Dell is unloading shares in his namesake computer company for the first time in almost three years as Dell Technologies Inc.‘s stock soars on artificial-intelligence optimism.

Dell’s chief executive officer has been selling on a near daily basis since March 6 and has now disposed of more than 4 million shares worth about $465 million, according to Bloomberg calculations.

He still owns half of the Texas-based company, the largest asset behind his $94.2 billion fortune, according to the Bloomberg Billionaires Index.

A spokesperson for Dell’s family office DFO Management declined to comment.

Dell’s shares jumped 32% on March 1 to a record high after the company reported sales and profit that beat analyst’s estimates, fueled by demand for technology that can support AI applications. The stock gained 40% this year through Monday’s close.

Dell, 59, who founded the company in 1984 while a student at the University of Texas at Austin, joins a growing number of tech billionaires selling stakes in their companies, including Meta Platforms Inc.’s Mark Zuckerberg, Amazon Inc.’s Jeff Bezos and Peter Thiel.