Michael Dell, the CEO of Dell Technologies, sold 10 million shares of his company for $1.22 billion at the end of September. This was his second significant stock sale that month, following another 10 million shares sold for $1.17 billion earlier in September. Despite the large sales, Dell still holds over 16.91 million shares worth over $2 billion.
The company's stock price has surged by 58.5% this year, largely due to increasing demand for AI hardware. Dell Technologies also recently rejoined the S&P 500. However, the stock sales haven't affected the stock price significantly, with only a slight dip in after-hours trading.
Dell sparked curiosity in June when he shared cryptic posts on X, hinting at an interest in Bitcoin. Despite the speculation, Dell Technologies hasn’t added any Bitcoin to its balance sheet, focusing instead on growing its AI and server business.