Michael Dell Overtakes Jeff Bezos to Rank Third Among World's Richest

By the close of Tuesday trading, Michael Dell's wealth reached an estimated $267.7 billion, a $4.6 billion gain that lifted him above Jeff Bezos, whose net worth dropped to $265.2 billion following a 0.6% decline in Amazon shares. Dell Technologies stock rose 1.9% to $533.88, after a strong earnings report that showed record $47 billion revenue and a 58% year-over-year increase, driven by booming demand for AI hardware.

The company's AI-optimized server segment generated $16.4 billion in the quarter, and Dell raised its full-year revenue outlook by $25 billion, expecting $74 billion from AI servers. With a roughly 40% stake in Dell Technologies and holdings in DFO Management, Dell now ranks behind only Alphabet co-founder Larry Page and Tesla CEO Elon Musk, and has surpassed Meta co-founder Mark Zuckerberg and Oracle co-founder Larry Ellison. CFO David Kennedy highlighted the synergy of the company's strengths in driving growth and profitability.