Dell stock surges on deal with Pentagon, making CEO $31B richer overnight
Dell's stock experienced a significant surge of over 30% following the announcement of a $9.7 billion contract with the Pentagon. This increase in stock value resulted in CEO Michael Dell's net worth rising by approximately $31 billion, positioning him as the sixth richest person globally. The company's revenue from AI hardware also saw substantial growth, leading to revised revenue expectations for the year.
- ▪Dell's stock surged over 30% after announcing a $9.7 billion contract with the Pentagon.
- ▪Michael Dell's net worth increased by about $31 billion, reaching approximately $245.9 billion.
- ▪The company's revenue from AI servers reached $16.1 billion in the quarter, surpassing its PC unit revenue.
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Business Dell stock surges on deal with Pentagon, making CEO $31B richer overnight By Marc Vartabedian Published May 29, 2026, 4:06 p.m. ET See more of our coverage in your search results. Add The New York Post on Google Dell stock surged over 30% on Friday, boosting founder and CEO Michael Dell’s net worth by some $31 billion. The exec’s net worth shout up to $241.1 billion, according to Forbes, lodging him in slot no. 6 on its billionaires list — just below Oracle CEO Larry Ellison and above Meta big Mark Zuckerberg. Shares in Dell went on a tear after the company reported first quarter growth in artificial-intelligence hardware and details emerged about its new $9.7 billion contract with the Department of War. CEO Michael Dell’s net worth is now valued at roughly $245.9 billion.
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