Business & Finance
Michael Dell Invests $406 Million in SK Group Shares to Aid Chairman’s Divorce Settlement
Michael Dell is investing 544 billion won ($406 million) in SK Group by purchasing a 1.34 % stake in SK Inc. from chairman Chey Tae‑won. The transaction is part of Chey’s plan to raise 944 billion won to fund a divorce settlement with his former wife. Earlier this month, SK Inc. announced that Chey had agreed to sell 1.65 million shares, or 2.26 % of the company, for 944 billion won. DFO Public Investments, L.P., a Delaware‑based fund linked to Dell’s family investment office, agreed to buy 972,493 shares. The sale covers the majority of the 944 billion won ($711 million) needed to pay former wife Roh Soh‑yeong, daughter of former South Korean president Roh Tae‑woo. The remaining amount will come from a price‑return swap with Korea Investment & Securities, covering 681,431 shares (0.94 %) for about 400 billion won ($301 million). Both transactions are scheduled to settle on November 2. Dell’s company, Dell Technologies, supplies AI servers and data‑centre infrastructure and has business ties with SK Hynix, SK Group’s memory‑chip unit. Dell, 61, has a net worth of roughly $241.3 billion, making him the world’s fifth‑richest person. His wealth has grown through Dell Technologies’ share price and a large stake in Broadcom, acquired when he sold VMware to Broadcom in 2023.