Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 54 Eric Schmidt $23.9B

Random fact: Clip of him dancing Gangnam Style viewed more than 29,000 times.

Overview

Schmidt is a former chief executive officer of Alphabet, the holding company for Google, the world's largest internet search operator. He owns about 1% of the Mountain View, California-based company. Google handles about 2 trillion searches a year, employs about 150,000 people and had revenue of $258 billion in 2021.

As of :
Last change +$444M ( +1.9%)
YTD change -$3.73B ( -13.5%)
Biggest asset GOOG US Equity
Country / Region United States
Age 67
Industry Technology
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Eric Schmidt's net worth of $23.9B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Schmidt's fortune is derived from a 1% economic interest in Alphabet, the parent company of Google, the world's largest search engine, according to Net Market Share. He owns about 3.4 million apiece of the company's class A and B shares, with the B shares convertible on a share-for-share basis into the publicly traded class A stock, according to an April 2021 proxy filing with the Securities and Exchange Commission. He owns these shares directly, through a family trust and through two limited partnerships.

He also owns about 4 million shares of class C stock and about 360,000 shares in the form of stock options, according to a 2019 filing.

Schmidt has collected about $4 billion from the sale of Google stock, based on an analysis of company filings and Bloomberg data. The value of his cash investments is based on an analysis of these proceeds insider transactions, taxes and charitable contributions. Some of the proceeds have been used to finance two of his investment companies, TomorrowVentures, a venture capital firm that has invested in scores of startup companies, and Innovation Endeavors, which funds young entrepreneurs. Schmidt is also the founder of Schmidt Futures, an impact investment firm that backs early-stage technology firms.

Schmidt's family office Hillspire bought a 20% stake in hedge fund D.E. Shaw in April 2015, according to a company statement. No price was disclosed. The stake is valued by price-to-AUM ratio of three public hedge funds -- Man, Janus Henderson and Sculptor -- using firm-stated assets under management as of Sept. 1, 2020 of $50 billion. A key-man risk of 25% is deducted to reach the value.

Hillspire didn't respond to emailed requests for comment on Schmidt's net worth.

Biography

Birthdate: 4/27/1955
Family: Married, 2 children
Education: University of California Berkeley, University of California Berkeley, Princeton University

Eric Emerson Schmidt was born in Washington, D.C. in 1955. After studying at Princeton University, he earned a doctorate in computer science at the University of California at Berkeley. He soon joined Sun Microsystems as the company's first software manager, and worked his way up to become Sun's chief technology officer. He left to join Novell as its chief executive officer.

In 2001, he was recruited by Sergey Brin and Larry Page to be the "grown up" at Google. The company sold shares in a public offering in 2004, mostly bypassing the Wall Street investment banks in favor of a so-called Dutch auction that opened the offering to outside bidders. Under Schmidt's watch, revenue climbed twelvefold to $38 billion and the company's Android operating system became the most widely used mobile platform in the market. He announced that he was handing over day-to-day management of the company to Larry Page in January 2011.

Active in politics, Schmidt was appointed by President Obama to serve on the President's Council of Advisors on Science and Technology.

Milestones
  • 1955 Eric Emerson Schmidt is born in Washington, D.C.
  • 1982 PhD in computer engineering from the University of California, Berkeley.
  • 1983 Becomes a software manager at Sun Microsystems.
  • 1997 Appointed chairman and chief executive officer at Novell.
  • 2001 Joins Google as chairman in March; later becomes CEO.
  • 2004 Google sells shares in an initial public offering.
  • 2011 Steps down as CEO of Google; remains chairman.
  • 2015 Alphabet holding company structure is announced.