Michael Dell, the founder and CEO of Dell, has purchased $100 million worth of company shares a Securities and Exchange Commission filing has revealed.
According to the filing, the CEO has purchased 7.37 million shares of Dell at $13.57 per share. Dell now owns 233 million shares in the company he founded, making him the largest individual share holder.
The latest purchase follows an acquisition made back in September 2008 by Dell, who bought 4.6 million shares at an average price of $20.50 per share.
The CEO, who now owns 13 per cent of the company's total shares, sold 10 million shares at $40.35 per share back in November 2004.
The company's share price rose 46 cents in afternoon trading, finishing up at $13.82. Dell's share price had previously depreciated by almost 7 per cent this year despite profits rising. Dell has since argued that the company's investors were not valuing the organisation highly enough.