It has been reported that Michael S. Dell bought 254,545 shares of DVMT on Jan. 9 for $27.50 per share.
http://finance.yahoo.com/news/weekly-ceo-buys-highlight-145254335.html
On that day, you or I would have to pay $57.76 a share.
Should also note that was less than the $47.20 we were offered as part of the merger.
So he made $7.7M (gross) just on that transaction.
I guess that's what we are here for as employees of a private company, to help build his wealth while fearing being laid off.
well said but if you look at what Dell got from EMC it wasn't the storage business, it was VMware. Take a look at the financials, VMware is paying $500M to Dell for Class A Shares which will be invested in Class B shares, give it another year and VMware will go private and under Dell's control.
What people will eventually realize is that this was never about retooling Dell to become a bigger, better enterprise machine. It was all about restructuring MD"s portfolio without the weight of Wall Street bearing down on him. A way to make money when the economy was struggling and customers weren't buying, out of the public spotlight. Some of what we are seeing now is Silver Lake exerting some control to protect their investment. In time, whatever comes out of this "transition", no matter how ugly, will be marketed and spun off as a shiney new public company. MD will make billions more. It's a shell game. A living breathing tribute to the old adages: "Two wrongs don't make a right" and "You can't polish a turd, but you can chrome plate it. " Dell-EMC is NOT a technology company - it's a finance company that leverages technology sales to move the money around.
He had to pay for that Boston condo somehow! :)
Cartelization keeps companies in business. Make sure you take your Employee Survey.
Sneaky, just like when Dell went private . Sacrifice employees . One big show .