Dell Technologies CEO Michael Dell is moving to donate approximately $1.7 billion worth of stock in the company he founded in 1984, Bloomberg reports.

Recent filings with the Securities and Exchange Commission indicate that Dell converted the classification of 25 million shares (currently valued at approximately $1.72 billion) owned by him and a trust in the name of his wife, Susan Lieberman Dell, in anticipation of a “future charitable donation of some or all of the shares,” according to Bloomberg. This week’s filings show that Dell has directed 650,000 shares ($44.7 million) to the Michael & Susan Dell Foundation and 900,000 shares ($61.9 million) to unspecified donor-advised funds (DAFs).

In October, Dell donated shares of the company worth $350 million to the foundation and several DAFS. An estimated 60 percent of Dell’s donations in 2023 have been directed to DAFs, according to Bloomberg.

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.

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