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.
When Ken Duberstein’s secretary told him Michael Dell was on the phone on the afternoon of July 31, there was little doubt about the topic. That morning, Dell Inc.’s special board committee had rejected the latest offer from Dell to take the personal-computer company private, a battle that was dragging into its 11th month.
Michael Dell set up a family office in 1998 that diversified his wealth beyond stock in the computer maker he had started 14 years earlier. Now, as he seeks to take Dell Inc. private, the same investment firm may provide pivotal financing for what would be the largest buyout since 2007.
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.
BP Plc may saddle potential buyers of its assets with lawsuits as Europe’s second-biggest oil company tries to raise money to pay claims that may reach $100 billion from the Gulf of Mexico spill, Bloomberg News’s Linda Sandler reports.