Michael Dell, the tech entrepreneur, is once again at the center of one of his industry’s biggest deals.
Dell owns a $16.2 billion stake in VMware Inc., implying that it will play a key role in Broadcom Inc.’s proposed acquisition of the cloud computing company.
The two companies are negotiating
In October, VMware’s market valuation surpassed $70 billion, while Dell’s stock was valued at around $28 billion. In premarket trade on Monday, VMware’s stock jumped 15%, valuing the company at $46 billion.
Michael Dell, the founder of Dell Technologies Inc., is worth $44.2 billion, according to the Bloomberg Billionaires Index. Despite strong opposition from notable investor Carl Icahn, he privatized PC firm Dell in a $24.9 billion deal in 2013.
Three years ago, Dell led the $67 billion acquisition of EMC Corp., which remains one of the largest technology mergers in history.
Then, in 2018, he overcame Icahn’s resistance in a share repurchase battle for stockholders who tracked Dell’s holdings in VMware.