$1.7 billion earmarked for future philanthropic giving by Lifestyles Magazine/Meaningful Influence cover subjects Susan and Michael Dell

Michael Dell converted 25 million shares he owned and a trust in his wife Susan’s name from unlisted Class A to listed Class C stock on Dec. 1, the company stated.

The conversion was done in anticipation of a “future charitable donation of some or all of the shares,” according to the filing.

Dell, 58, who owns more than 50% of the computer company’s stock, is the world’s 20th-richest person with a $65.4 billion fortune, according to the Bloomberg Billionaires Index.

The latest gift comes on top of the 5.2 million shares worth about $350 million he donated in October. They went to donor-advised funds and the Michael & Susan Dell Foundation.

The Austin-based foundation reported assets of $1.6 billion at year-end. It supports education, health, and economic opportunity causes, with the goal of “accelerating human opportunity across the world.”

About 60% of Dell’s donations this year went to donor-advised funds. Unlike private foundations, such entities aren’t required to disclose whether assets have been donated or to whom they were given.

Dell founded his namesake computer company in 1984. Dell’s MSD Partners merged with merchant bank BDT & Co. in January.

In 1999, Michael and Susan Dell established the Michael & Susan Dell Foundation, which focuses on, among other causes, grants, urban education, childhood health and family economic stability. In 2006, the foundation provided $50 million in grants to three health-related organizations associated with the University of Texas: the Michael & Susan Dell Center for Advancement of Healthy Living, the Dell Pediatric Research Institute to complement the Dell Children’s Medical Center, as well as funding for a new computer science building at the University of Texas at Austin campus.[48] In 2013, the foundation provided an additional $50 million commitment to establish the Dell Medical School at the University of Texas at Austin.[49] Since 1999, the MSDF has committed $1.23 billion to non-profits and social enterprises in the United States, India and South Africa. Dell is also behind the founding of the Dell Jewish Community Campus in the Northwest Hills neighborhood of Austin.

By 2011, the foundation had committed more than $650 million to children’s issues and community initiatives in the United States, India and South Africa.

In 2002, Dell received an honorary doctorate in Economic Science from the University of Limerick in honor of his investment in Ireland and the local community and for his support for educational initiatives.

In 2012, the Michael and Susan Dell Foundation committed $50 million for medical education. The Dell Medical School began enrolling students in 2016.

In 2014, he donated $1.8 million to the Friends of the Israel Defense Forces.

In 2017, in the wake of Hurricane Harvey, Dell, a Houston native, pledged $36 million to relief efforts.

In May 2017, Dell donated $1 billion to his foundation, which focuses on child poverty; it makes both impact investments and charitable donations.

In 2018, Dell Technologies returned to public markets through a complicated financial restructuring.

In 2020, the Michael and Susan Dell Foundation donated $100 million to support small businesses and others to endure the COVID-19 pandemic and help find treatments for coronavirus.

In 2021, it was announced that the Michael and Susan Dell Foundation donated $38 million to three non-profit organizations that are devoted to housing homeless people in Austin.

In 2023, it was noted that the Michael and Susan Dell Foundation has donated over $2.43 billion so far.

Photo: Michael Dell with Lifestyles Magazine/Meaningful Influence founder Gabriel Erem


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