Published: Mon, September 04, 2017
Economy | By Melissa Porter

Tech billionaire one-ups Trump's Hurricane Harvey donation in a big way

Tech billionaire one-ups Trump's Hurricane Harvey donation in a big way

Michael Dell was born in 1965 in Houston, to a Jewish family that Anglicized its original Yiddish name, Thal, when it immigrated to the US.

The massive gift is part of an even bigger project called the Rebuild Texas Fund that is being kicked off by their Michael and Susan Dell Foundation.

"This disaster is personal to everyone who has roots in Texas", the Dells said in a statement to ABC News 15.

In a Facebook post announcing the nationwide fundraising campaign, Michael, CEO of Dell Technologies, wrote: "In a week, the national spotlight will shine elsewhere, but for tens of thousands of Texans, the rebuilding will have just begun".

Fortune reports that Dell will be giving the money through the Michael and Susan Dell Foundation, a non-profit he and his wife started in 1999. To get the fund going, the Dells donated $17 million and the goal is to raise over $100 million to assist with immediate relief and long-term recovery and rebuilding.

The foundation launched the fund with $18 million and will match other donations up to another 18 million. The street in which Dell grew up was under water as of Friday. According to CNN Money, the Republican billionaire has pledged $36 million to relief efforts in his hometown of Houston.

Fifty-two companies had donated $1 million or more as of that time. These figures are constantly growing as pledges continue to pour in.

Walmart pledged up to $20 million in cash, products and matching donations.

The Dells said the Rebuild Texas Fund has four core initiatives: health and housing, schools and child care, workforce and transportation, and capital for rebuilding small businesses. The Chamber is tracking donation totals, DeCourcey said, but it's too soon to predict whether the corporate relief efforts for Harvey will reach the $1 billion milestone recorded after Hurricane Katrina and Superstorm Sandy.

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