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Richest Americans - #8

Thursday, September 20, 2007provided by

Michael Dell

Net Worth: $17.2 billion
Source: Dell
Residence: Austin, Tex.
Age: 42
Marital Status: Married, 4 children

• Soft-spoken Texan reclaimed chief executive spot at Dell Computer in January for first time since 2004 after numerous setbacks pummeled company's shares.
• Lost No. 1 spot in PC market to Hewlett-Packard last year as company's long-standing practice of shunning retail outlets and selling desktop PCs directly to customers over the phone or Internet floundered.
• Hired former Motorola exec Ronald Garriques to lead company's global expansion, cut 10% of company's workforce, struck deals to sell desktop computers in Wal-Mart, Sam's Club stores.
• Shares up 25% in past 12 months.
• Battling HP for China market.
• Started selling computers from U. of Texas dorm room 1984 with $1,000; dropped out to start Dell.
• Took public 1988, grew fast with direct-sales model.
• Most of net worth now outside Dell.
• Reinvests via private investment vehicle MSD Capital: equities, real estate, private equity.
• Republican sits on U.S. President's Council of Advisors on Science & Technology.
• Wife, Susan, created upper-crust (and unaffordable) fashion label Phi.

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	6.00%	6.06%
  15 Year Fixed	5.64%	5.76%
  1 Year ARM	5.57%	5.67%
  30 Year Fixed Jumbo	7.54%	7.52%
  5/1 ARM	5.85%	5.96%
  3/1 ARM	5.73%	5.72%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.17%	8.14%
  $50K Home Equity Loan	8.01%	7.99%
  $75K Home Equity Loan	8.01%	7.99%
  $30K HELOC	4.87%	4.88%
  $50K HELOC	4.67%	4.69%
  $75K HELOC	4.66%	4.68%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	2.94%	2.98%
  1 year CD	3.42%	3.46%
  3 year CD	3.55%	3.58%
  MMA	2.37%	2.41%
  $10K MMA	2.62%	2.66%
  $25K MMA	2.97%	3.00%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.82%	6.82%
  48 Month New Car Loan	6.86%	6.85%
  60 Month New Car Loan	6.61%	6.59%
  72 Month New Car Loan	6.44%	6.44%
  36 Month Used Car Loan	7.16%	7.15%
  48 Month Used Car Loan	6.81%	6.83%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Balance Transfer Credit Cards	10.24%	10.15%
  Credit Cards For Bad Credit	11.24%	11.01%
  Low Interest Credit Cards	11.43%	10.98%
  Instant Approval Credit Cards	11.76%	11.37%
  Airline Credit Cards	12.55%	12.36%
  Reward Credit Cards	12.65%	12.19%

  Source: CreditCards.com

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