Michael Dell and his wife Susan (Photo by Scott Olson/Getty Images)
Billionaire Michael Dell, chairman and CEO of Dell Technologies, and his wife Susan promised on Friday to give $36 million to assist in the efforts of rebuilding the city he grew up in. The massive gift is part of an even bigger project called the Rebuild Texas Fund that is being kicked off by their Michael and Susan Dell Foundation. Through the foundation, the couple will immediately donate $18 million to establish the fund and will then work with the public to hopefully raise millions more over the Labor Day weekend. For every two dollars given over the next four days via a text-to-donate campaign, the foundation will match it with an additional dollar.
“This is our home,” Dell said in a statement. “And we know that it will take all of us working together, over the long term, to rebuild our Texas communities.”
The goal of the Rebuild Texas Fund, which was announced by Texas Governor Greg Abbott, is to raise $100 million to accelerate the long-term recovery and rebuilding of communities affected by Hurricane Harvey.
Janet Mountain, executive director of the Austin, TX – based Michael & Susan Dell Foundation said that Texas holds a special place in the couple’s hearts and the fact that both Michael and Susan are Texas natives affected their response to the disaster. “This kind of devastation is personal, especially if you have Texas roots” Mountain told FORBES. Mountain stated that the foundation wanted to kick off the fund with a sizable immediate donation so that the people impacted by the hurricane know that there is someone behind them. The foundation has also set up a page for donations. “We believe we can get there ($100 million) and even higher,” Mountain said.
The $36 million donation is not unprecedented for the Dells, whose foundation, according to its website, has donated $1.38 billion since its inception in 1999. Among the most notable donations are its $50 million gift to establish the Dell Medical School at the University of Texas at Austin in 2013, and the $25 million challenge to match a dollar for dollar for the construction of the Seton Healthcare Family’s teaching hospital in Austin. In May this year Dell announced he would commit an additional $1 billion to support social entrepreneurs and nonprofits.
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