Michael Dell is the founder and chief executive of Dell, the world's third- largest computer hardware manufacturer by revenue. He currently owns about 15 percent of the Round Rock, Texas-based company. Through his New York-based investment firm, MSD Capital, Dell also controls an investment portfolio worth more than $9 billion.
In the 3 1/2 years since Michael S. Dell resumed running Dell Inc. , the computer maker he founded 26 years ago, he has made more than 10 acquisitions, cut 10,000 jobs and hired executives from Motorola Inc. and Nike Inc. to put some flash in the company’s products. Dell bought Perot Systems Corp. for $3.6 billion last year to expand into computing services.
Michael Dell, who along with Silver Lake Management LLC is fighting to win shareholder approval of their $24.6 billion buyout offer for Dell Inc., agreed to an interview by e-mail. He discussed the method for counting shareholder votes, the opposition to the deal by Carl Icahn and his plans for the company he founded. Shareholders are scheduled to vote on Aug. 2. This is a complete transcript of the questions and his replies.
Carl Icahn’s plan to seek a higher price for his stake in Dell Inc. put the spotlight on a section of Delaware law that is being used by a growing group of money managers to squeeze more cash from corporate buyouts.
The loan on the Four Seasons Resort Hualalai, a Hawaiian vacation area co-owned by Michael Dell’s MSD Capital LP, is close to a restructuring as the property benefits from higher room rates and rising luxury-home demand, said Patrick Fitzgerald, chief executive officer of the resort.
Philip Falcone’s hedge fund, having taken out a loan earlier this year at an effective annual interest rate of 24 percent, has found a new source of financing: the money-management arm of billionaire Michael Dell.