According to Cointelegraph, Dell Technologies founder and CEO Michael Dell sold company stock twice in September, totaling 20 million shares worth approximately $2.4 billion.
Dell sold 10 million shares but still holds more than 16.91 million shares, valued at more than $2 billion, according to a Sept. 30 filing with the U.S. Securities and Exchange Commission.
On September 23, Dell disclosed that he sold 10 million shares worth about $1.17 billion in seven transactions between September 19 and 23.
Dell Technologies' stock price has risen 58.5% this year and rejoined the S&P 500 index on September 24. The company has benefited from a surge in demand for artificial intelligence and a sharp increase in demand for servers.
Despite Dell's massive share sale, traders have yet to react, with the stock price down just 0.33% in after-hours trading on Sept. 30 and up 0.74% over the past five trading days.
In June, Dell published a series of mysterious posts on social media, sparking speculation that he might be involved in Bitcoin. However, Dell Technologies did not add Bitcoin to its balance sheet in the second quarter.
