On Friday, tech billionaire Michael Dell broke his silence on what he plans to do for Houston, his home town that’s been devastated by catastrophic flooding from Hurricane Harvey.
He’s going big, like the native Texan he is, with plans to raise a $US100 million fund to assist in the relief and rebuilding of Houston. It’s called the Rebuild Texas Fund.
Dell and his wife Susan are seeding the fund with a $US36 million grant from their charitable foundation — half of it up front, and half of it as a match to funds raised over the weekend.
“Over the Labour Day Weekend, we will contribute another dollar for every two dollars donated to the Rebuild Texas Fund,” Dell wrote in a Facebook post Friday morning announcing the fund.
While Dell and his company Dell Technologies may be most associated with Austin, Texas, where his company is headquartered, the man himself was born and raised in Houston.
Dell and his wife are also among the biggest philanthropists in the state, so it’s not at all surprising to see them step in with an effort that’s more than a big, one-off donation. This fund may be something in place for years; in fact, the fund’s page proclaims: “A Texas-sized disaster requires a Texas-sized response.”
Dell says 100% of donations will go to recovery/rebuilding efforts because his foundation and the OneStar Foundation will be picking up the tab for administrative costs. OneStar acts like a hub that assists with non-profits in Texas.