Michael Dell loses $20 billion in one day after Dell’s stock sees biggest fall in months after Barclays downgrade

Michael Dell’s net worth declined by more than $20 billion in a single day, stripping him of the world’s fourth richest person. As stated in a Forbes report, the fall comes as Dell’s shares suffered its largest intraday drop since July on October 14, hours after an analyst from Barclays downgraded the stock from overweight to equal-weight before markets opened. Shares for the laptop maker traded 11.1% shortly before market close, causing the centibillionaire founder’s net worth to drop precipitously. As per Forbes report, Michael Dell is now the fifth richest person in the world with an estimated net worth of $256.6 billion.

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