Michael Dell Flags Plan to Donate Stock Worth $1.7 Billion
- He converted 25 million Class A shares for ‘future’ giving
- Tech CEO in October gifted his foundation 5.2 million shares
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Michael Dell is taking steps to donate Dell Technologies Inc. shares worth as much as $1.74 billion.
Dell converted 25 million shares owned by him and a trust in the name of his wife from unlisted Class A to listed Class C stock on Dec. 1, the company said Tuesday in a filing. The conversion was done in anticipation of a “future charitable donation of some or all of the shares,” according to the filing.