Michael Dell,
the billionaire Texan who founded Dell Technologies, has pledged $36
million of his foundation’s money to help disaster relief efforts in the
wake of Hurricane Harvey.
The gift from the Michael and Susan Dell Foundation is the largest donation to date aimed at recovery efforts.
Mr. Dell was born in Houston, and the neighborhood where he grew up, Meyerland, was flooded by the storm.
“This
is our home,” he said in a statement. “It will take all of us working
together, over the long term, to rebuild our Texas communities.”
As
the scope of the devastation has become more clear in recent days, many
companies have pledged to fund recovery efforts, including some of the
big corporations who have benefited from Houston’s business-friendly policies.
Verizon has pledged $10 million and Toyota $3 million. But Mr. Dell hopes to eventually raise $100 million.
His foundation’s pledge will seed the Rebuild Texas Fund, an initiative that will be run with the OneStar Foundation, which coordinates charitable work in Texas.
The
goal is to raise $100 million for the fund by the end of the Labor Day
weekend. The Dell Foundation will contribute $18 million initially and
match another $18 million as donations come in.
Janet
Mountain, executive director of the Dell Foundation, said the fund
would first focus on initial relief efforts, then the recovery work that
would follow as well as longer-term rebuilding projects.
"We
are looking at months and months of rebuilding,” she said in an
interview. “We want to make sure we have resources to fund all of those
phases.”
The
fund, which was created only in the past few days, has not identified
grantees yet. But Ms. Mountain said the money raised would be used to
help families in four main areas: health and housing, schools and child
care, work force and transportation, and capital for rebuilding small
businesses.
Ms.
Mountain, who had family rescued in Houston this week, said none of the
money raised for the Rebuild Texas Fund would be used for
administrative costs. Instead, the OneStar Foundation and the Dell
Foundation would cover those expenses, meaning that “for donors, their
contributions are going directly to victims,” she said.
Mr. Dell is a billionaire many times over, having founded Dell, turned it into the largest computer maker in the world, then taken the company private in 2013. He is still chief executive of Dell, and in 2015 orchestrated one of the biggest technology deals ever, the $67 billion purchase of EMC.
Founded
in 1999, the Dell Foundation has given away more than $1.3 billion. The
$36 million pledge to the Rebuild Texas Fund will not be Mr. Dell’s
largest; he gave $50 million to the University of Texas at Austin in 2013.
But
Ms. Mountain hopes others will contribute alongside the Dells. Anyone
can contribute to the fund by texting “RebuildTx” to 91999 and following
the prompts.
“We’re
heartbroken,” Ms. Dell said in a statement. “Michael and I are both
from Texas, and the street he grew up on is underwater now. We want
everyone to know that we are in this for the long haul to support
families and communities — our neighbors in need.”
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