Square: TX billionaire Michael Dell to donate $36M to Harvey relief fund

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United States billionaire Michael Dell and his wife Susan announced Friday an initiative to raise $100 million in private funds for Hurricane Harvey recovery.

The founder and CEO of Dell and his wife Susan on Friday also announced the launch of the Rebuild Texas Fund, along with Texas Governor Greg Abbott.

He's going big, like the native Texan he is, with plans to raise a $100 million fund to assist in the relief and rebuilding of Houston.

USA corporate giants have pledged a whopping $ 170 million for disaster relief operations to help victims of Hurricane Harvey, one of the most destructive storms in USA history that killed at least 47 people.

To donate to the Rebuild Texas Fund, visit www.rebuildtx.org or text "RebuildTX" to 91999.

In a prepared statement, the Dells said that the disaster was personal to all with roots in Texas.

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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 street in which Dell grew up was under water as of Friday.

Fifty-two companies had donated $1 million or more as of that time.

Janet Mountain, the Dell Foundation executive director said the new fund would focus first on the initial efforts but continue through with rebuilding and long term recovery efforts. Companies have pledged $170 million to relief efforts as of Thursday, according to an estimate from the US Chamber of Commerce.

Department store chain Walmart pledged up to $20 million in cash, products and matching donations. Meanwhile, Verizon contributed $10 million.

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.

Mountain, who had family members rescued this week in Houston, said none of the raised money would be used to cover administrative costs.

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