Zuckerberg passes Michael Dell in rankings as Dell shares drop
· 6 sources
Forbes reports Mark Zuckerberg is now the world's fifth-wealthiest person after a sharp drop in Dell Technologies shares cut Michael Dell's fortune.
What happened
Forbes and Forbes Australia report that Mark Zuckerberg has overtaken Michael Dell to become the world's fifth-wealthiest person. The change followed a decline in Dell Technologies shares.
Forbes Australia says Dell shares fell almost 9%, which wiped $13 billion off Michael Dell's fortune. Traders Union also covered the decline, asking why the stock was down 7.6% on the day.
Benzinga published a report asking how Dell servers containing restricted NVIDIA chips ended up in China. Trefis ran a piece asking whether Dell stock could fall 40%, and Barchart.com listed Dell among several companies whose shares were falling.
Context
Billionaire rankings move with the market value of the shares that make up a person's wealth, so a drop in a company's stock can change a founder's position quickly.
Why it matters
The episode shows how a single-day move in Dell Technologies stock can affect both the company's market profile and the net worth of its founder.
Stocks in this story
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
$194.29Fair range: $119.77 to $220.37The price ($344.53) is 77.3% above that figure.
Chance of a rise in 1 month
45%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $283.76 and $392.90; 9 in 10, between $212.65 and $524.28.
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