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article imageDell founder wants to use his own money to take company private

By Eric Morales     Jan 31, 2013 in Business
Michael Dell is seemingly willing to put his money where his mouth is, as he seeks to use his fortune to take the tech company private.
Forbes reports that Michael Dell is worth over $14 billion dollars, and apparently the self made billionaire who dropped out of the University of Texas at Austin, is willing to put up between $500 million and $1 billion to buy out the company he started. According to Tech Spot with his combined 16 percent stake in the company, Dell's investment would make up more than half of the $8 to $9 billion deal.
The rest of the deal would be secured by debt, or more of Michael Dell's cash, of which he is reported to have $11 billion on hand.
BGR is reporting that the company wishes to go private due to a bold plan to reinvent itself. The bold plan includes a project called: Ophelia, a completely self-contained PC the size of an USB thumb drive. Users would still be able to access Windows, Mac OS, Google’s Chrome OS, and Dell’s custom cloud solutions, Citrix.
The company had been in talks to be taken private by Silver Lake and Microsoft, however the deal could have placed Michael Dell's job security at risk. Michael Dell's continued role as CEO would have had to been approved by Microsoft and Silver Lake according to CNN.
Microsoft was also seeking control over Dell's daily operations, rather then just being a financial backer.
The former top computer maker has faced slowed growth, battery recalls, and lower than expected earning reports. Many insiders according to Tech Spot believe the company could regain its past glory if it was to go private and restructure.
More about Michael dell, Dell, Finance, Buy out, Microsoft
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