Dell shares drop 18% from peak, Zuckerberg reclaims fifth spot

Mark Zuckerberg is once again the world’s fifth-richest person. A sustained selloff in Dell Technologies shares eroded Michael Dell’s fortune, dropping him to sixth place in the Forbes real-time rankings. Zuckerberg’s net worth reached $222.1 billion on Monday, edging out Dell’s $221.1 billion.

The ranking shift reflects a divergence in how markets are currently pricing artificial intelligence exposures. Dell’s stock dropped 3.3% on Monday, compounding an 8.8% decline from the previous week. The shares are now down more than 18% from their June 1 intraday peak of $469, suggesting investors are actively taking profits in the hardware segment of the AI trade.

The recent pullback does little to reverse Dell’s massive gains this year. The computer maker’s stock has surged roughly 200% year-to-date, driven by soaring demand for AI infrastructure and servers powering data centers. This unprecedented rally increased Michael Dell’s personal wealth from $141 billion at the start of 2026.

Since 2020, Dell’s personal wealth has expanded by 864%, up from an estimated $22.9 billion. A record single-day share gain earlier this year temporarily pushed Dell past Zuckerberg in the global wealth standings. The company also drew attention from U.S. President Donald Trump, who disclosed a first-quarter stake and publicly urged investors to buy the shares.

While Dell’s hardware valuation corrects, Meta Platforms’ stock demonstrated relative stability. Meta shares recovered from intraday losses to close flat on Monday, securing Zuckerberg's lead. Zuckerberg’s wealth is anchored by a roughly 13% stake in the company, a holding that made him the youngest centibillionaire at age 36 back in 2021.

Investors heavily punished the company’s spending on the metaverse in 2022, wiping tens of billions from his fortune. A subsequent strategic shift toward artificial intelligence and improved profitability has since fueled a dramatic recovery. Meta's market capitalization has expanded above $1.3 trillion, with shares climbing more than fivefold from their 2022 lows.

The fluctuation underscores the volatile nature of AI-linked equities. By September 2024, Zuckerberg had established himself as the year’s biggest wealth gainer by adding $54 billion, overtaking Nvidia chief Jensen Huang in the process. For market participants, the changing of the guard highlights a growing selectivity within the artificial intelligence trade, where software resilience currently outpaces hardware momentum.