Michael Saul Dell (born February 23, 1965) founded Dell Inc. in 1984 with nothing more than $1,000 and an idea. Now he serves as Chairman (he was also chief executive officer until 2004) of the fastest-growing major computer systems business in the world, inspiring millions of entrepreneurs to pursue their dream of creating a new innovation and not simply for being a billionaire (he is worth over $16 billion US, but there are still others who are richer) or for building one of the best and most profitable companies in the world (they make close to $2 billion in profits a year).
Biography
Michael Dell was born in Houston, Texas on February 23, 1965 to Alexander Dell, an orthodontist, and Lorraine Dell, a stockbroker, and grew up in a well-to-do Jewish family. He had his first encounter with a computer at the age of 15 when he broke down a brand new Apple II computer and rebuilt it, just to see if he could. Dell attended Memorial High School in Houston, Texas, where he did not excel scholastically. Reportedly one of his teachers, still currently teaching there, commented to him that he "would probably never go anywhere in life."
After graduating high school, he attended the University of Texas at Austin intending to become a physician. While at the university, he started a computer company called PC's Limited in his room in Dobie Center.
The company became successful enough that, with the help of an additional loan from his grandparents, Dell dropped out of college at the age of 19 to run the business full-time.
Dell Computer
In 1987, PC's Limited changed its name to Dell Computer Corporation.
The company is now worth billions because Dell decided to bypass the middleman, who adds little value to the products, and sell custom-built PCs directly to end users. Thanks to this original direct-marketing approach and pioneering of the industry's first service and support programs, Dell Computer Corporation became recognized as the top vendor of personal computers worldwide.
In only 15 years, the company's sales have skyrocketed from $6 million to a whopping $35 billion in 2002. Since its first international addition opened in the United Kingdom in 1987, Dell has opened sales offices in over 34 countries, and boasts over 33 thousand employees in over 170 countries and territories all over the world.
Another of Dell's worldwide innovations is his leadership on the Web. Dell is recognized as the largest online commercial seller of computer systems, with an average of over $30 million per day in online sales. The company also redefined the role of the Web in delivering faster and
more efficient
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service to customers.
The company's business clientele includes most of the companies in the Fortune 500 list of the top performing American companies. With the addition of Dell Computer Corporation to this list in 1992, Dell became the youngest CEO of a company ever to earn a ranking on the Fortune 500 .
The value of Dell's stock has risen almost 70,000% over the past decade and in 1999, The Wall Street Journal named Dell Computers No. 1 in total returns to investors over the past three, five and ten years.
Over time, and despite a number of setbacks (including laptops that caught on fire in 1993, temporarily losing the consumer market to Gateway in the mid 1990's, and others), Dell survived to become the most profitable PC manufacturer in the world, with sales of US$ 49 billion and profits of US$ 3 billion in 2004. In 2003, shareholders voted to rename the corporation Dell, Inc., in order to acknowledge Dell's prospective and ongoing product line expansion.
On March 4, 2004, he stepped down as CEO of Dell but stayed as chairman of the board, while Kevin Rollins, then president and COO, became president and CEO.
Accolades
Because of the extraordinary achievement of the company, Dell has been honored many times for his creative leadership, earning the titles of "Entrepreneur of the Year" from Inc. magazine, "Man of the Year" by PC magazine, "Top CEO in American Business" from Worth magazine, and "CEO of the Year" by Financial World and Industry Week magazines.
In 1997, 1998 and 1999, he was on Business Week's list of "The Top 25 Managers of the Year." In addition, executive search firm Heidrick & Struggles named Dell their "High Impact CEO" for 1996 and 1997.
He is a member of the Board of Directors of the US Chamber of Commerce and the Computerworld/Smithsonian Awards. Dell serves on the nominating committee for the National Technology Medal of Honor and is a member of The Business Council.
In the 2005 publication of the Forbes 400, Dell was listed as the 4th richest man in the United States and the 18th richest in the world with net assets of around US$ 18 billion.
Personality
Michael Dell can be painfully shy, but that doesn't mean he isn't charismatic. Rarely has a bad word been uttered about his personality. If you want to talk about charm, watch him with a room full of Dell shareholders and he will shine.
As a visionary, leader, entrepreneur, boss, person, and manager, Michael gets nothing but praise. With good reason too: he proved that a college dropout can fulfill his dreams and succeed. Lately, the men who were formerly nerds are now labeled "visionaries." Not that Dell was ever a nerd; in fact, great leadership is what makes him so highly successful - not technical acumen.
In 1999, he wrote the best-selling book Direct From Dell: Strategies That Revolutionized an Industry, which reveals his story of the rise of Dell Computer Corporation and the strategies he has refined that apply to all corporations.
Dell resides in Austin, Texas with his wife, Susan, and their four children. Mr. Dell has the 15th largest home in the world. It is worth an estimated 18.7 million dollars.
