Dell, founder and CEO of Dell Technologies, saw his net worth rose 3.3% to $234 billion on Wednesday as shares of the U.S. tech giant gained 3.7% during the trading session, according to Forbes.

The increase was driven largely by Dell's roughly 40% stake in the company he founded in 1984.

Ellison's fortune fell 2.5% to an estimated $230.8 billion after Oracle shares declined 2.6% to $183.48. Oracle's stock has retreated sharply since reaching a yearly high of $248.15 on June 1, reducing the value of Ellison's holdings.

Michael Dell, founder and CEO of Dell Technologies. Photo courtesy of Dell Technologies

The Oracle co-founder has experienced sharp swings in the global wealth rankings in recent years. He briefly surpassed Elon Musk as the world's richest person for part of a day in 2025, according to Benzinga. However, he has since fallen back in the rankings as Musk's wealth continued to increase in 2026.

Earlier this month, the 80-year-old billionaire climbed to second place after Oracle shares surged 28% over five trading days, lifting his estimated net worth to nearly $296 billion. However, a subsequent decline in the stock erased much of those gains, pushing him down the rankings to fifth place last week.

Dell now ranks behind Amazon founder Jeff Bezos, whose fortune is estimated at $248 billion. Google co-founders Sergey Brin and Larry Page occupy the third and fourth spots with estimated net worths of $274.1 billion and $297.2 billion.

Tesla and SpaceX chief Elon Musk remains the world's richest person by a substantial margin. His net worth recently surpassed $1 trillion following SpaceX's record-breaking IPO, making him the world's first trillionaire.

Dell has emerged as one of the biggest beneficiaries of the surge in AI spending as technology companies race to expand computing infrastructure and data center capacity.

Dell Technologies' market value has more than tripled over the past year, pushing the company above the $200 billion valuation mark. In its latest quarterly results, the company reported an 88% increase in revenue from a year earlier and a 757% jump in AI server revenue.

It recently raised its forecast for annual AI-related revenue to $60 billion, up from a previous estimate of $50 billion issued in February.