Michael Dell’s net worth fell more than $20 billion on Wednesday as the share price for Dell Technologies tanked, stripping him of the title of fourth-wealthiest person in the world.

Dell company stock suffered its largest intraday drop since July on Wednesday, hours after an analyst from Barclays downgraded the stock from overweight to equal-weight before markets opened.

Shares for the tech company were trading 11.1% shortly before market close, causing the centibillionaire founder’s net worth to drop precipitously.

Dell is now the fifth-wealthiest person in the world, whose $256.6 billion estimated net worth puts him directly behind Google co-founder Sergey Brin, whose net worth also fell by about $4 billion to $262.3 billion after Alphabet share prices dropped Wednesday afternoon.

Dell was briefly the second-wealthiest person on Earth last month, when his net worth topped $270 billion, only behind Elon Musk.

Dell only holds a relatively narrow advantage over Meta’s Mark Zuckerberg for the No. 5 wealthiest title. Zuckerberg’s estimated net worth was $253.1 billion Wednesday afternoon.

Dell Technologies emerged as one of the big winners this year after demand for its servers and equipment for data centers skyrocketed as artificial intelligence companies build out data centers needed to power the technology. Michael Dell owns a roughly 40% stake in the company, which he founded in the 1980s. The slump in Dell’s share price on Wednesday coincided with a broader decline in the markets after the Bureau of Labor Statistics released inflation data on Wednesday morning that came in above estimates—the S&P 500 was down by 1.2%, the Nasdaq fell by 1.9%, and the Dow Jones Industrial Average was down 0.2% shortly before market close.

Over $157 billion. That’s how much Dell’s net worth has grown in the last year since the Forbes 400 list was published in 2025, when he was valued at $97.7 billion.