Dell Computer Corp. chairman Michael Dell donated about $114 million worth of company stock to the new Michael and Susan Dell Foundation, a private charity set up by Dell and his wife, Bloomberg News Service reports.

The new foundation received the 2.7 million shares of Dell company stock Jan. 3. Although details of the foundation's mission still are being worked out, foundation spokesperson Tricia Knox told Bloomberg the foundation likely will make grants in the Dell's home state of Texas -- where many of the couple's gifts have been made in recent years.

Some of those recent gifts include donations to a children's museum, a library and a children's hospital, Bloomberg reports. The Dells also established the "insure.a.kid" program that gives health benefits to children whose families live within 200 percent of poverty levels.

In addition to the new foundation, the couple also launched the Dell Foundation about four years ago to support children's causes in Central Texas.

Michael Dell -- fifth on last year's Forbes 400 list of the world's richest people -- owns a 14-percent stake in Dell Computer Corp..

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