Eric Schmidt, known for serving as the CEO of Google from 2001 to 2011, executive chairman of Google from 2011 to 2015, executive chairman of Alphabet Inc. from 2015 to 2017, and technical advisor at Alphabet from 2017 to 2020, Eric Emerson Schmidt (born April 27, 1955) is an American businessman and software engineer.
Schmidt co-authored Lex, a piece of software that created lexical analyzers for the Unix computer operating system, while he was an intern at Bell Labs in 1975. He served as Novell’s chief executive officer (CEO) from 1997 until 2001. He has held positions on a number of other boards in both academia and business, such as those for Carnegie Mellon University, Apple, Princeton University, and the Mayo Clinic.
While serving as Google chairman in 2008, Schmidt participated in Obama’s presidential campaign and later joined Eric Lander on the president’s council of advisors on science and technology. Later, Lander was appointed science adviser to Joe Biden.
In the meanwhile, Schmidt created the charitable organisation Schmidt Futures in 2017. Two staffers in the Office of Scientific and Technology Policy’s science office were paid by Schmidt Futures under Lander’s leadership. With an estimated net worth of $25.1 billion as of April 2022, the Bloomberg Billionaires Index rated Schmidt as the 54th-richest person in the world.
Eric Schmidt Bio/Wiki
Eric Emerson Schmidt
Eric Emerson Schmidt
67 years (as in 2022)
Sun Sign/Zodiac Sign
Falls Church, Virginia, United States
Date of Birth
27 April 1955
Journalism and space robotics
Marital Status, Wife and Children
Allison Schmidt, Sophie Schmidt
Uc Berkely college of Engineering, Princeton University
Schmidt was raised in Falls Church and Blacksburg, Virginia, where he was born and raised in Falls Church, Virginia. He is one of the three children of Eleanor Schmidt, a psychology graduate, and Wilson Emerson Schmidt, a professor of international economics at Virginia Tech and Johns Hopkins University and a former employee of the Nixon Administration’s Treasury Department.
Due to his father’s employment, Schmidt spent a portion of his boyhood in Italy, and he has said that this experience altered his perspective. After receiving eight varsity running letters, Schmidt graduated from Yorktown High School in the Yorktown district of Arlington County, Virginia, in 1972.
He majored in architecture at Princeton University before transferring to electrical engineering and graduating with a Bachelor of Science in Engineering in 1976. Schmidt lived in the International House Berkeley from 1976 to 1980, when he first met Wendy Boyle, his future wife.
Schmidt received an M.S. degree from the University of California, Berkeley in 1979 for creating the Berknet network, which connected the campus computer centre with the EECS and CS departments He also received a PhD in EECS from the same institution in 1982, with a dissertation on the challenges of overseeing remote software development and the methods available to address them.
Schmidt wed Wendy Susan Boyle in June 1980. (born 1955 in Short Hills, New Jersey). In the 1990s, they resided in Atherton, California. They have a daughter named Sophie and a daughter named Alison who passed away in 2017 due to sickness. Even though some of Schmidt’s connections outside of work have garnered media attention, he and his wife continue to support charities.
Schmidt, his daughter Sophie, Jared Cohen, and Bill Richardson, a former governor of New Mexico, travelled to North Korea in January 2013. Schmidt purchased a 20% share in D.E. Shaw & Co. in 2015. Another quant hedge fund, CargoMetrics, also has Schmidt as an investor.
In April 2015, Schmidt gave the graduation speech at Virginia Tech, which is situated in Blacksburg, Virginia, the town where he was raised. This happened soon after Schmidt gave the College of Engineering at Virginia Tech $2 million. Paul Torgersen, the previous president of Virginia Tech, and Schmidt have a long-standing acquaintance that has led to Schmidt’s generosity. The Paul and Dorothea Torgersen Dean’s Chair in Engineering was made possible by his generosity.
Schmidt paid $30.8 million for the 22,000-square-foot mansion with a view of Santa Barbara known as Montecito Mansion on September 20.
Schmidt is reportedly finishing his intention to become a citizen of Cyprus, according to a Recode article from November 2020. He is one of the most well-known individuals who have utilised the “passport-for-sale” immigrant investment programmes. With this passport, you can travel to and reside in any nation in the European Union.
Eric Schmidt With hisWife
At the beginning of his career, Schmidt worked in a variety of technical capacities for IT firms like Byzromotti Design, Bell Labs (in research and development), Zilog, and Palo Alto Research Center (PARC). He and Mike Lesk created Lex, a tool used in compiler development that creates lexical analyzers from regular-expression descriptions, during his summers at Bell Labs.
Schmidt started working at Sun Microsystems as its first software manager in 1983. He progressed to become Sun Technology Enterprises’ president, director of software engineering, vice president and general manager of the software products division, and vice president of the general systems group. He was the victim of two notorious April Fool’s Day jokes while working on Sun.
In the first, his office was disassembled and then reconstructed on a platform in the centre of a pond, replete with a functional phone and workstation connected to the company’s Ethernet network. The next year, a functioning Volkswagen Beetle was disassembled and put back together at his workplace.
Schmidt was appointed CEO and board chairman of Novell in April 1997. He oversaw a period of decline at Novell during which its IPX protocol was supplanted by open TCP/IP products and Microsoft was providing free TCP/IP stacks with Windows 95, significantly decreasing Novell’s profitability. He left in 2001 after Cambridge Technology Partners was purchased. In 2009 or 2010, he didn’t get any more shares or options. The majority of his remuneration came from “personal security” services and private plane rentals.
Along with Google co-founders Page and Brin, Schmidt was named first on PC World’s list of the 50 most influential people online in 2007. Schmidt is one of a select group of individuals[who?] who, like Meg Whitman, became billionaires (in US dollars) as a result of stock options they were granted while working for companies whose founders or founders’ families they were neither.
Forbes rated Schmidt as the 136th richest person in the world in its 2011 “World’s Billionaires” list, with an estimated net worth of $7 billion. Schmidt announced his resignation as Google’s CEO on January 20, 2011, although he will continue to serve as the company’s executive chairman and serve as an advisor to co-founders Page and Brin. He received a $100 million equity reward from Google in 2011 after he resigned as CEO. Schmidt was succeeded as CEO by Page on April 4, 2011.
On December 21, 2017, Schmidt made his resignation as Alphabet’s executive chairman official. “Larry, Sergey, Sundar and I all feel that the moment is right in the evolution of Alphabet for this move,” said Schmidt. After 19 years with the firm, Schmidt resigned from his position as a technical advisor in February 2020.
Ministry of Defense
The Defense Innovation Advisory Board, a new advisory body for the Department of Defense, was revealed to have Eric Schmidt as its chairman in March 2016. The advisory council acts as a venue for bringing together Pentagon officials and industry heavyweights in the technology sector.
Schmidt continued to serve as Alphabet’s technical adviser, and Google was still in the process of submitting a proposal for the Joint Enterprise Defense Infrastructure, or JEDI, a multi-million dollar Pentagon cloud contract, to avoid any potential conflicts of interest: There is a rule: I’m not authorised to be briefed about Google or Alphabet business as it pertains to the Defense Department, Schmidt said in a statement that he used to filter emails and other correspondence. In November 2020, he resigned from the job.
Together with Robert O. Work, Schmidt served as co-chair of the National Security Commission on Artificial Intelligence from 2019 to 2021.
Participation in Unlawful Non-Recruitment Agreements
Schmidt participated in actions while employed at Google that eventually gave rise to the High-Tech Employee Antitrust Litigation case, which ended in a $415 million settlement paid to workers by Adobe, Apple, Google, and Intel. In one instance, Schmidt emailed Google’s human resources department after receiving a complaint from Steve Jobs of Apple, stating, “I think we have a policy of no recruiting from Apple and this is a direct inbound request. Please stop this and explain to me why it’s occurring.
Please let me know as soon as you can since I need to respond to Apple right now. Thank you, Eric. Schmidt’s email caused a Google recruiter to be “terminated within the hour” for not following the unlawful programme.
There was a “Do Not Call list” of businesses that Google would not call about hiring from under Schmidt. A court document states that in another email discussion, Schmidt is questioned about Google’s no-cold-call policies by the company’s director of human resources. Schmidt said, “Vocally, as I don’t want to establish a written trail over which we might subsequently be sued?” in response.
Schmidt was elected to the board of directors of Apple Inc. on August 28, 2006, and he served in that capacity until August 2009.
Schmidt is now the Broad Institute’s Board of Directors’ Chair.
Schmidt served on the Princeton University and Carnegie Mellon University boards of trustees. In the 2000s, he was an instructor at Stanford Graduate School of Business. Schmidt sits on the boards of The Economist, the Khan Academy, and the Princeton Institute for Advanced Study.
In 1999, the non-profit public policy centre and think tank New America was established. In 2008, James Fallows, the original chairman, was succeeded by Schmidt, who held the position until 2016. Schmidt and Dror Berman established Innovation Endeavors, an early-stage venture capital, in 2010.
The Palo Alto, California-based firm made investments in businesses like Mashape, Uber, Quixey, Gogobot, BillGuard, and Formlabs. In July 2020, Schmidt began collaborating with the US government to establish a technical college as part of a programme to train future scientists, programmers, and cyber-security specialists. Schmidt’s podcast Reimagine with Eric Schmidt debuted in August 2020. Schmidt began working as a strategic advisor for Chainlink Labs in December 2021.
Family Foundation of Schmidt
In order to address concerns of sustainability and prudent resource usage, Wendy Schmidt and Eric Schmidt founded the Schmidt Family Foundation in 2006. The Eric & Wendy Schmidt Data Science for Social Good Fellowship is a University of Chicago summer school programme for aspiring data scientists that Schmidt and his wife founded.
ReMain Nantucket and the Marine Science and Technology Foundation are subsidiaries of the Schmidt Family Foundation, and the 11th Hour Project is their primary charity initiative. The Natural Resources Defense Council and the Energy Charity have both received donations from the foundation.
The Schmidt Ocean Institute, which operates RV Falkor to assist oceanographic research, receives the majority of its funding from the foundation. The Schmidts have launched several projects on the island of Nantucket in collaboration with Hart Howerton, a San Francisco architectural firm that specialises in large-scale land use, in an effort to preserve the island’s distinctive character and lessen the negative effects of seasonal tourism on the island’s core community.
In response to the Deepwater Horizon oil disaster, Mrs Schmidt presented the prize fund for the Wendy Schmidt Oil Cleanup X CHALLENGE, a reward for successfully extracting crude oil from saltwater. Additionally, the organisation gave the Monterey Bay Aquarium $10 million in 2015.
Transformative Technology Fund by Schmidt
Eric and Wendy Schmidt donated $25 million to Princeton University’s Schmidt Transformative Technology Fund in 2009. The Fund’s mission is to promote interdisciplinary research and technological development in the engineering and natural sciences. Grants of $1.2 million were given in 2010 and $1.7 million in 2012.
The Schmidt Science Fellows programme was established in collaboration with the Rhodes Trust as part of a $100 million investment to advance scientific leadership and multidisciplinary research. The curriculum includes a Global Meeting Series with special events at prestigious universities including Oxford, Cambridge, MIT, and Harvard. Fellows are paid a stipend to engage in postdoctoral research outside of their areas of expertise.
A project by Schmidt Futures and the Rhodes Trust that seeks to provide extraordinary young people throughout the world more opportunities to give back throughout their careers.
A lifetime of service and study will be encouraged by the initiative, which will identify and advance young individuals between the ages of 15 and 17 from all around the world, by offering support that may include scholarships, career services, and financial possibilities.
His current net worth is $19.2 Billion dollars as of 2022. According to Net Market Share, Schmidt’s 1 per cent economic stake in Alphabet, the parent company of Google, the largest search engine in the world, is where the majority of his wealth comes from.
According to a proxy statement submitted to the Securities and Exchange Commission in April 2021, the controls around 3.4 million shares of the company’s class A and class B stock, with the class B shares convertible into the publicly traded class A stock on a share-for-share basis
These shares are held directly by him, by a family trust, and by two limited partnerships. According to a 2019 filing, he also holds around 360,000 shares via stock options and 4 million shares of class C stock.
According to an examination of corporate records and Bloomberg statistics, Schmidt has made approximately $4 billion from the selling of Google stock. Based on an examination of these revenues, insider trades, taxes, and charity contributions, the worth of his cash interests are determined.
Two of his investment firms, TomorrowVentures, a venture capital firm that has backed a large number of start-up businesses, and Innovation Endeavors, which supports young entrepreneurs, both received funding from some of the revenues. Schmidt founded Schmidt Futures, an impact investing company that supports start-up technology companies.
According to a press release from the firm, Schmidt’s family office Hillspire acquired a 20% investment in the hedge fund D.E. Shaw in April 2015. There was no price given. The investment is evaluated using the price-to-AUM ratio of three publicly traded hedge funds, Man, Janus Henderson, and Sculptor, using the firm-stated $50 billion in assets under management as of September 1, 2020. To get at the value, a 25% key-man risk is subtracted.
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