World
Michael Dell loses $10 billion-plus in hours after Dell CEO sees biggest fall in a day
Reading in data-saving mode. Read full article from Times of India website.
Published 11/5/2026 1:43:15 AM
Michael Dell loses $10 billion-plus in hours after Dell CEO sees biggest fall in a day in his fortune as …
Michael Dell’s net worth declined by nearly $10 billion in a matter of hours as Dell Technologies shares fell sharply on November 4. The billionaire CEO recorded one of the biggest drops in personal wealth for the day, while Meta CEO Mark Zuckerberg saw his fortune rise by around $3 billion. According to Forbes’ Real-Time Billionaires list, Dell’s net worth stood at $212.5 billion, marking a 5.5% decline for the day. Dell Technologies stock, on the other hand, fell more than 9%, triggering the steep drop in his fortune. Notably, only Elon Musk recorded a larger decline in wealth during the day.
Why Dell’s fortune dropped sharply
Dell Technologies is closely linked to the AI boom, supplying servers, storage systems, hardware and other infrastructure used to power data centers. However, its stock was among the technology shares that declined following the US midterm election results.
Opposition to data center construction emerged as a major issue during the elections, with several Democratic candidates winning on promises to tighten restrictions on new projects.
Ohio’s Democratic Governor-elect Amy Acton has supported a conditional moratorium on data centers unless operators agree to cover 100% of utility costs.
In Texas, Democratic Governor-elect Gina Hinojosa has pledged an immediate statewide moratorium on new data center construction.
These proposals have raised concerns about the future costs and regulatory environment for companies involved in data center infrastructure.
Technology stocks showed a mixed response to the election outcome. Amazon, Alphabet, Microsoft and Apple gained, while Dell, Nvidia, Tesla, SpaceX and SoftBank declined.
Mark Zuckerberg gains billions as Meta shares rise
In contrast, Mark Zuckerberg’s net worth rose to $216.6 billion, up around 1.5% as Meta shares gained. The Facebook founder was among the top five wealth gainers on Wednesday afternoon, with investors responding positively to the US midterm election results.
The gains came as markets responded to perceived political stability following the Democrats’ decisive victory in Congress and President Donald Trump’s acceptance of the election results.
Meta has been investing heavily in AI infrastructure. The company’s capital expenditure is projected to reach between $130 billion and $145 billion for the year, reflecting its efforts to expand AI capabilities and data center capacity.
However, the election results could also bring increased regulatory scrutiny for technology companies. With Democrats taking control of both the House and Senate, investors are preparing for more AI-related hearings, investigations and potential regulations.
You use AI every day. Now get your AI Quotient. Take the AIQ test.
§
once said he would consider leaving his entire fortune to
Elon Muskrather than giving it to a traditional charity. The two billionaires were once close friends who shared a vision of changing humanity's future. But years later, their relationship reportedly cooled over disagreements about artificial intelligence (AI) and the risks it could pose to humanity. Larry Page's unusual idea of giving his wealth to Musk came into the spotlight during a 2014 TED interview with Charlie Rose. The interviewer reminded Page of an earlier statement in which the Google co-founder had expressed confidence in Musk's ability to shape the future.
"You once said ... that you might consider, rather than giving your money to a cause, simply giving it to Elon Musk because you had confidence he would change the future," Rose said.
Larry Page agreed with the idea, explaining that Musk's ambition to make humanity a multiplanetary species was itself a form of philanthropy. "He wants to go to Mars — to back up humanity. That's a company, and it's philanthropical. So I think we aim to do kind of similar things," Page said.
Why Larry Page wanted to leave his fortune to Elon Musk
The idea was not just an offhand remark during the TED interview. It had reportedly come up a year earlier at a Stanford event in 2013. During an interview with Elon Musk at the ENCORE Award event, venture capitalist Steve Jurvetson recalled a conversation at a Google lunch where Page unexpectedly spoke about his wealth and what would happen to it if he died.
Jurvetson said Larry Page had remarked, "If I got hit by a bus today, I should leave all of it to Elon Musk." The audience laughed at the statement. Elon Musk, who appeared surprised, asked whether Page had really said that before smiling and referring to him as a good friend.
How AI disagreement reportedly changed Elon Musk and Larry Page’s friendship
The two entrepreneurs had known each other long before they became some of the world's richest technology leaders. Musk had met Page before securing venture funding for his companies, and their friendship grew around conversations about artificial intelligence, space exploration and the future of humanity.
For Larry Page, Musk's plans to build a future beyond Earth appeared to align with his own belief that technology could help solve some of humanity's biggest challenges.
Despite their shared interests, the relationship between Page and Musk reportedly became strained over artificial intelligence. Both men had strong views about the technology, but their perspectives on its long-term risks differed. Musk has repeatedly warned about the dangers of advanced AI and the need for safeguards. Page, meanwhile, has been associated with a more optimistic view of technological progress. Reports have suggested that their disagreement over AI contributed to the cooling of their friendship.
You use AI every day. Now get your AI Quotient. Take the AIQ test.