Michael Dell donates $350 million in stock to foundation and DAFs
Dell Technologies CEO Michael Dell has donated shares of the company worth $350 million to the Michael & Susan Dell Foundation and several donor-advised funds (DAFs), Forbes reports.
According to Forbes, recent filings with the Securities and Exchange Commission indicate that $140 million in shares were directed to the foundation, while $210 million in shares were distributed to three undisclosed DAFs. The donations are collectively Dell’s largest gift and the first time since 2006 that he has donated shares of Dell Technologies, representing slightly more than 1 percent of his holdings in the company he founded in 1984.
Since 1999, the foundation has distributed approximately $2.4 billion, mostly in support of health- and education-related causes in the United States, India, and South Africa. In 2022, it committed $15 million in Ukraine relief aid in support of families with medical needs and the resettlement of refugees and $18 million from a DAF at Vanguard Charitable to help fund the launch of a new hospital ship by Mercy Ships.
Michael Dell is 16th on the Forbes list of the nation’s top givers, with lifetime giving of 3 percent of his net worth, which is estimated at more than $67 billion.
(Photo credit: Flickr/michandryan)
