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Michael Dell Completes $33 Million Private Investment In StealthGas Shipping

Dell has completed a $33 million private investment in StealthGas, an international shipping transportation company.

Michael Dell Addresses Oracle's OpenWorld 2010 Conference

Computer billionaire Michael Dell has emerged as the mystery buyer who purchased roughly 10% over the shares in StealthGas, the international shipping and transportation company paying around $35.5 million.

StealthGas Inc are specialists in the transportation of various petroleum and petrochemical  gas products while they are in a liquefied form, and as such are the owners of world’s largest fleet of LPG pressurized carriers in the highly strategic 3000 to 8000 cubic meter capacity sector of the industry.

According to reports Dell purchased the shares in StealthGas through MSD Capital,  his private investment fund which he established in 1998. Since then, Dell  has made significant investments in a number of non-conflicting areas such as real estate and private equity.

Thanks to his investment in StealthGas. Michael Dell joins the ranks of the world’s wealthiest investors in commercial shipping, with his current fortune valued at around $15.3 billion, lagging behind that of George Soros a long-term investor in Scorpio Bulkers by a mere $4 billion.

Industry commentators point to the fact that LPG shipping trade has grown rapidly to become the most rapidly developing sector of the industrial shipping industry , becoming increasingly attractive to investors at many levels

StealthGas has become one of the major players in the sector with turnover for the year ending December 31, 2013 which amounted to $121.5 million, earning approximately $21.2 million in profit for the year. During 2013 StealthGas increase their fleet to 39 tankers from 37 during 2012

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As early as  his freshman year at the University of Texas at Austin, Michael  Dell began to take advantage of his practical knowledge of computers by selling upgrade kits for computers to his fellow students. His enterprise became so successful that Michael applied for a vendor license that enabled him to bid on contracts for the State of Texas, where he succeeded in considerably undercutting the competition, by cutting out the traditional overhead that a computer store had to contend with.

In 1984, when aged just nineteen Michael Dell began to market upgraded PCs, kits, and add-on components on a full time basis, recording sales of around $65, 000 recorded for that year, having the vision to incorporate his company under the name of “Dell Computer Corporation” and began operating out of a business center in North Austin.

Just eight years later, Dell had grown his company to such an extent that he earned the distinction of being named as the youngest CEO to have his company mentioned in Fortune magazine’s list of the top 500 US corporations.

In 1996, Dell began marketing his company’s computers through the internet, which proved to be highly successful, with annual sales of around $350 million being recorded in the first year. By 2001, Dell Inc. had achieved a world market share of 12.8 percent, to become the world’s largest PC maker, eventually reaching as high as seventeen percent worldwide and sixteen percent in the United States, during a gradually shrinking market.

 

 

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