Michael Dell nets $232m in share sale

Michael Dell and his directors were offloading shares by the truckload last month. The founder and chairman of Dell Computer sold a total of 5.7 million shares in November, Bloomberg reported. The 34-year-old sold 2.1 million shares on 17 November at $40.66 each, 1.9 million on 18 November at $40.20, and 1.7 million on 24 November at $41.25 each. This raised a total of $231.8 million, and added to Michael Dell’s other share sales earlier this year. In both March and June he sold eight million, and a further four million shares in August and September. These combined figures only account for around 1.5 per cent of Michael Dell's total share in the company. He still controls around 14 per cent of the direct PC vendor's 2.55 billion outstanding shares. But other Dell executives were also selling shares last month. Vice chairman Morton Topfer and CFO Thomas Meredith, along with senior VPs John Schneider, Joseph Marengi and Micheal Lambert, all shifted shares in November. ®