Michael Dell, the multibillionaire founder and CEO of Dell Technologies, recently gave about $350 million worth of his stock to good causes. It was his first donation of Dell shares since 2006, and his biggest gift of the company’s stock ever, Forbes reported.
Dell gifted 5.15 million shares between October 13 and October 19, Securities and Exchange Commission filings show. He handed 2 million shares, or nearly 40% of the total amount, to the Michael & Susan Dell Foundation. The rest went to charitable funds established and advised by the personal-computing pioneer and his wife.
The gift is small relative to Dell’s estimated net worth of $64 billion, which ranks him as the world’s 18th-richest person on the Bloomberg Billionaires Index. However, the entrepreneur and his spouse are still among the biggest philanthropists in America; they placed 16th on Forbes’ list of the country’s most generous givers in January with an estimated $2.4 billion of lifetime donations.
Read the full story on Yahoo! Finance here.