Eric Schmidt Net Worth: Google, Career & Lifestyle
American businessman, software engineer, and philanthropist Eric Schmidt’s net worth is a staggering $28 billion.
Schmidt is most known for his time as the CEO of Google.
In 2001, Eric was invited to take over as CEO by Larry Page and Sergey Brin, the company’s founders.
He led the company through its spectacular initial public offering with ease.
Eric served as Google’s CEO until 2011. From then till 2020, he held the Chairman and Technical Advisor position.
He has also served on the boards of Trustees at Apple, Princeton University, and the Mayo Clinic, among others in academia and industry.
Eric is one of a selected group of people who became billionaires while working for companies they didn’t start.
Furthermore, Eric left Google and created “Schmidt Futures,” a nonprofit initiative, in 2017.
Eric Schmidt | Quick Facts
Let’s look at quick facts to understand more about Eric Schmidt.
|Birth Name||Eric Emerson Schmidt|
|Professional Name||Eric Schmidt|
|Nick Name||Schmidt, Eric|
|Birth Date||April 27, 1955|
|Age||67 Years old|
|Birth Place||Falls Church, Virginia, USA|
|Height||178 cm (5 feet 10 inches)|
|Weight||88 kg (194 lbs.)|
|Net Worth||$28 Billion|
|Profession||Businessman, Software Engineer, Philanthropist|
|Non-profit Organization||Schmidt Futures|
|Father’s Name||Wilson Schmidt|
|Mother’s Name||Eleanor Schmidt|
|Ethnicity||Cornish, English, German, Irish, Scottish, Swiss-German, Welsh|
|Siblings||Carl Schmid, Orrin Schmidt|
|High School||Yorktown High School|
|Spouse||Wendy Boyle (M. 1980)|
|Children||2 (Allison Schmidt, Sophie Schmidt)|
|Social Media||Twitter, Instagram, Facebook|
|Last Update||March 2023|
Eric Schmidt | Net Worth and Income
Billionaire businessman and software engineer Eric Schmidt’s net worth is a whopping $28 billion.
The majority of Schmidt’s wealth is generated from a 1% economic stake in Alphabet, Google’s parent firm.
According to business papers, Schmidt has made roughly $4 billion from the sale of Google stock.
Eric was paid a $250,000 plus an annual performance incentive when he joined Google.
In addition, he received 14,331,703 shares of Class B common stock valued at $0.30 each and 426,892 shares of Series C preferred stock valued at $2.34 each.
Schmidt and the Google founders agreed to a base salary of US$1 in 2004 (which lasted until 2010), plus additional remuneration of $557,465 in 2006, $508,763 in 2008, and $243,661 in 2009.
Eric got $8.04 million in 2015 as executive chairman, which included a $1.25 million salary and a $6 million cash bonus.
Including that, his annual earnings from Google in the same year were a total of $108 million.
Moreover, Eric received a $100 million equity award when he stepped down as CEO of Google.
Similarly, he has two investment companies that have increased his wealth. The first is “TomorrowVentures,” a venture capital firm that has made numerous investments in startups.
Likewise, “Innovation Endeavors” is his second company that sponsors young entrepreneurs.
Furthermore, in May 2015, his family’s investment company paid an unknown sum for a 20% share in hedge fund D.E. Shaw & Co.
Eric Schmidt’s Net Worth in Different Currencies
Let’s look into Eric Schmidt’s net worth in different currencies, including the cryptocurrency Bitcoin.
|Pound Sterling||£ 21,807,702,000|
|Australian Dollar||A$ 38,679,368,000|
|Canadian Dollar||C$ 35,660,800,000|
|Indian Rupee||₹ 2,141,314,000,000|
Eric Schmidt | Houses, Cars, Yacht, & Jet
Before joining Google, Eric and his wife owned property in Atherton, California, in the 1990s.
Similarly, Eric (actually his spouse) paid $31 million for a mansion in Montecito, California, in September 2020.
Schmidt paid $61.5 million in May 2021 to buy hotel tycoon Barron Hilton’s former Beverly Hills mansion.
Moreover, he bought the house next door for $5 million in the first week of January 2021 to establish a three-acre private enclave.
Likewise, Eric spent $65 million for an unfinished block of land far atop Beverly Hills in mid-January 2022. The estate is a 120-acre property known as “Enchanted Hill.”
In 2021, three months before Schmidt’s Enchanted Hill purchase became public, his daughter paid $22 million for a Beverly Hills hilltop mansion.
As of March 2023, Eric Schmidt’s net worth is a massive $28 billion.
Schmidt possesses a Toyota Prius and enjoys taking it for a drive.
The Prius isn’t your average automobile; it’s the only vehicle on the market today that can get you 50 miles per gallon on the highway or in the city.
It’s only natural that the cutting-edge technology automobile found a home in Schmidt’s garage.
In addition, Eric also has a Google driverless car, which is not available for purchase yet.
Yacht & Jet
Schmidt is the proud owner of Oasis, one of the most feature-packed yachts ever built. The 59.4m yacht has both the appearance and the substance to be a treasured asset.
The yacht is accessible for charter and will set you $400,000 per week.
Similarly, Eric owns a $42 million Gulfstream V, a jet that can fly up to 51,000 feet above the ground.
The world’s most luxurious and high-performance aircraft is powered by Rolls Royce engines and is known for conducting extremely long voyages worldwide.
Eric Schmidt | Lifestyle and Vacation
Eric Schmidt lives a luxurious lifestyle with a net worth of $28 billion.
He was born to Eleanor Schmidt and Wilson Emerson Schmidt, both educated and in good financial position.
Eric grew up with two siblings in Falls Church and Blacksburg, Virginia.
Moreover, Schmidt spent a portion of his childhood in Italy because of his father’s employment, and he claims it influenced his viewpoint.
He graduated from Yorktown High School and Princeton University with a bachelor’s degree in electrical engineering.
Similarly, Eric continued his study at the University of California, Berkeley, where he received his MS and subsequently a Ph.D. in electrical and electronic engineering and computer science.
Likewise, he also taught part-time at Stanford Business School.
Schmidt lived at the International House Berkeley from 1976 to 1980, when he met his future wife, Wendy.
Eric wedded Wendy Susan Boyle in June 1980. They were the parents of two girls. Alison, one of their daughter, died tragically in 2017 due to illness.
Sophie, their surviving daughter, is the founder of “Rest of the World,” a technology journalism venture.
Schmidt’s extra-marital relationships have gotten him into trouble, but he is still married to Wendy. Moreover, they reportedly have an open marriage.
Schmidt’s tumultuous marriage to Wendy is well-documented. Despite the fact that they are not divorced, they live apart.
Although, according to reports, the couple is on the verge of divorcing. Eric Schmidt’s divorce is expected to cost up to $1.5 billion, making it the second most costly divorce.
Furthermore, Schmidt was expected to become a resident of the island republic of Cyprus in 2020. He was later approved to become a citizen of Cyprus.
Eric Schmidt has traveled to several countries of the world.
The former CEO of Google enjoys flying, so it’s no wonder that he possesses a Gulfstream V, one of the best private jets available.
Eric enjoys testing vertical limits on his jet. Even though he is a licensed pilot, he always travels with a professional crew.
He frequently travels to the East Coast and Europe on his private plane.
Eric Schmidt enjoys taking his massive yacht, the Oasis, to the south of France and the Caribbean.
Similarly, Schmidt traveled to North Korea with his daughter Sophie in January 2013.
Eric Schmidt | Charity
Eric Schmidt has been involved in several charities.
The “Schmidt Family Foundation” was formed in 2006 by Schmidt and his wife to maintain a healthy relationship between human activity and utilizing the world’s natural resources.
The foundation also funds projects to help alter the world’s environmental and energy habits.
Similarly, Eric and his wife donated $25 million to Princeton University’s Schmidt Transformative Technology Fund in 2009.
The fund’s mission is to support natural sciences and engineering research and technologies while fostering cross-disciplinary collaboration.
Moreover, in 2010, it awarded $1.2 million in grants, while in 2012, it awarded $1.7 million in grants.
Likewise, Schmidt gave Virginia Tech’s College of Engineering a $2 million donation.
Furthermore, “The Schmidt Science Fellows program” is part of a $100 million investment to promote scientific leadership and multidisciplinary research.
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Eric Schmidt | Movies, Books, Investment, and Endorsement
Eric Schmidt has also featured in a few movies and television series in his career.
In 2014, he made a cameo appearance in Jim Carrey and Jeff Daniels’ film “Dumb and Dumber 2.”
In addition, he made a guest appearance on HBO’s “Silicon Valley.”
Eric is known for his roles on “Terms and Conditions May Apply” (2013) and “Revolting” (2017).
Eric Schmidt has ventured into the world of words with the release of several books.
Schmidt’s book “The New Digital Age: Reshaping the Future of People, Nations, and Business” was published in 2013.
It analyzed the geopolitical ramifications of increased Internet use and access to information.
Similarly, Schmidt co-authored “How Google Works,” a New York Times best-selling book, in 2014.
The book is a compendium of Schmidt’s business management skills learned as Google’s CEO.
Likewise, in 2021, Eric wrote “The Age of AI: And Our Human Future” and “My Path to Dying to Self, Spiritual Dynamics, and the Struggle of the Modern-Day Christian.”
Eric Schmidt’s net worth as of March 2023 is a massive $28 billion.
He co-founded “Innovation Endeavors,” a pioneering financing firm that has backed companies like Uber, SoFi, and Zymergen.
Schmidt is also a shareholder in “CargoMetrics,” a quantitative hedge fund.
Eric was a member of the Carnegie Mellon University and Princeton University boards of trustees.
In the 2000s, he was a professor at Stanford Graduate School of Business.
Similarly, Schmidt is a member of the Princeton Institute for Advanced Study, the Khan Academy, and The Economist’s boards of directors.
From 2008 until 2016, Eric served as chairman of “New America,” a non-profit public-policy center and thought tank.
As of March 2023 Eric Schmidt’s net worth is a staggering $28 billion.
Since 2007, Eric has been a member of the “Bilderberg Group” and has participated in the annual meetings.
He is also a member of the “Trilateral Commission,” noted on his resume.
Similarly, he is a member of the University of Oxford’s Blavatnik School of Government’s International Advisory Board.
Schmidt began working with the US Government in July 2020 to establish a technical college as part of an effort to train future coders, cyber-security professionals, and scientists.
Eric Schmidt | Career
Schmidt worked for several IT companies early in his career, including Bell Labs (in research and development), Byzromotti Design, Zilog, and Palo Alto Research Center (PARC).
At Bell Labs, he co-wrote a software that creates lexical analyzers from regular-expression descriptions used in compiler development.
After that, Eric joined “Sun Microsystems” as the company’s first software manager in 1983.
He progressed through the ranks of Sun Technology Enterprises to become its president.
Similarly, Schmidt was named CEO and chairman of the board of Novell in April 1997.
Likewise, Eric became Google’s CEO in 2001 after joining Google’s board of directors as chair in March 2001.
Schmidt shared responsibility for the company’s day-to-day operations.
On January 20, 2011, Google announced that Eric would resign as CEO and take on the role of executive chairman of the firm and serve as an adviser.
Some Interesting Facts About Eric Schmidt
- Schmidt started the podcast “Reimagine with Eric Schmidt” in 2020.
- In 2021, Eric became a strategic advisor at “Chainlink Labs.”
- Eric is well-known for his political activism as he was a passionate supporter of both Barack Obama and Hillary Clinton‘s presidential campaigns.
What does Eric Schmidt do now?
He is the chairman of the “National Security Commission on Artificial Intelligence” at the moment. Eric also devotes a significant amount of time to MIT’s numerous programs.
Is Eric Schmidt the founder of Google?
No, he was later hired to take the position of CEO.
Has Eric Schmidt worked for Apple?
Schmidt was appointed to Apple’s board of directors in 2006 and served until 2009.
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