Michael Dell to Give $36 Million for Recovery of his Hometown Houston; Sets Up Fund for $100 Million

Michael Dell (CNBC)
Michael Dell (CNBC)

On Friday, tech billionaire Michael Dell broke his silence on what he plans to do for Houston, his home town that’s been devastated by catastrophic flooding from Hurricane Harvey.

He’s going big, like the native Texan he is, with plans to raise a $100 million fund to assist in the relief and rebuilding of Houston. It’s called the Rebuild Texas Fund.

Dell and his wife Susan are seeding the fund with a $36 million grant from their charitable foundation — half of it up front, and half of it as a match to funds raised over the weekend.

“Over the Labor Day Weekend, we will contribute another dollar for every two dollars donated to the Rebuild Texas Fund,” Dell wrote in a Facebook post Friday morning announcing the fund.

While Dell and his company Dell Technologies may be most associated with Austin, Texas, where his company is headquartered, the man himself was born and raised in Houston.

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SOURCE: Julie Bort 
Business Insider