Dell CEO Sells 10 Million Shares of Company Stock in September, Worth Approximately $1.22 Billion

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October 2, 2024
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Michael Dell, founder and CEO of Dell Technologies, sold 10 million shares of company stock in a second large-scale sale in September, worth about $1.22 billion. A filing submitted to the US SEC on September 30 shows that Dell still held over 16.91 million shares of company stock, worth over $2 billion, after selling the 10 million shares. This is the second time Dell has sold stock in a month. Just a few days earlier, on September 23, he disclosed that he had sold 10 million shares of company stock, worth about $1.17 billion, in seven transactions between September 19 and September 23. Google Finance data shows that Dell Technologies' stock price has risen 58.5% this year. The rise allowed it to rejoin the S&P 500 index on September 24, which tracks the largest 500 publicly traded companies in the United States. It is unclear why Dell is selling such a large amount of company stock, but traders have not reacted to Dell's sale. On September 30, Dell shares fell only 0.33% in after-hours trading, and have risen 0.74% over the past five trading days. (Cointelegraph) Previously, in July, Michael Dell retweeted a CNBC interview of Larry Fink, co-founder and CEO of BlackRock, on the X platform, saying that Bitcoin was "fascinating." Larry Fink said he was wrong about Bitcoin five years ago and reiterated that Bitcoin is digital gold, calling it a legitimate financial instrument.

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