Eric Schmidt Net Worth

Eric Emerson Schmidt Net Worth

Real Name: Eric Emerson Schmidt
Date of Birth: 04/27/1955
Place of Birth: Washington, D.C.

2017 Net Worth: $ 9.1 Billion
2016 Earnings:

Profession: Software Engineer, Businessman, Executive Chairman of Google

Eric Schmidt Biography


Born in Washington, D.C. Eric Schmidt grew up in the suburbs of North Virginia around the Blacksburg and Falls Church areas. Schmidt attended Princeton University, where he began as an architecture major but changed his major and earned a B.S. degree in electrical engineering in 1976. Schmidt then attended the University of California at Berkeley, earning an M.S. degree for designing and implementing a network that linked the campus computer center with other departments. In 1982, he earned a Ph.D. with a dissertation about the problems of managing distributed software development and the tools needed for solving these problems.

Schmidt joined Sun Microsystems in 1983 as their first software manager. He soon became Director of Engineering, Vice President, and then eventually, President of Sun Technology Enterprises. In April of 1997, he became the CEO and chairman of the board of Novell. Google founders Sergey Brin and Larry Page interviewed Schmidt and were very impressed. They recruited him to joint Google’s Board of Directors as Chairman in March of 2001.

At the time of his hiring, Schmidt was paid an annual salary of $250,000 and an annual performance bonus. He was given more than 14 million shares of Class B common stock and 426,000 shares of preferred stock. Schmidt is one of the few persons who became a billionaire in the United States based on stock options received as an employee of a corporation that he was neither founder nor relative of the founders. Google gave Schmidt a $100 million equity award when he stepped down as CEO in 2011.

Schmidt is enjoying his wealth. He has a yacht worth more than $72 million, and he loves to fly his $42 million Gulfstream jet. He has numerous homes as well, with a $20 million estate in Montecito, California, and a luxury residence in Atherton, California, valued at $4 million. With a net worth of $9.1 billion, Schmidt can afford to fly or sail anywhere in the world, and the truth is, he usually does.

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