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Grizzly Bulls’ Billionaires Index

⬅ # 73 Jack Ma|# 75 Autry Stephens ➡

# 74 Eric Schmidt 

$25.4B

Real Time Net Worth
as of 5/13/2024
$63.6M (0.25%)

# 74 Eric Schmidt 

$25.4B

Real Time Net Worth
as of 5/13/2024
$63.6M (0.25%)
OccupationCofounder, Schmidt Futures
Source of WealthGoogle
Age69
ResidenceAtherton, California
Marital StatusMarried
Children2
EducationBS, Princeton University; Doctorate, University of California, Berkeley; MS, University of California, Berkeley
Age-Adjusted Net Worth$13.8B
Eric Schmidt
Eric Schmidt
United States
Net worth: $25.4B

Self-Made Score 

Wealth History

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Biography

Personal Life

Born on April 27, 1955, in Falls Church, Virginia, Eric Emerson Schmidt is an American businessman and former software engineer.
Grew up in a Jewish family in Falls Church and Blacksburg, Virginia; spent part of his childhood in Italy due to his father's work.
Graduated from Yorktown High School in 1972, earning eight varsity letter awards in long-distance running.
Attended Princeton University, earning a Bachelor of Science in Engineering degree in 1976 and later obtaining an M.S. and Ph.D. in EECS from the University of California, Berkeley.
Married Wendy Susan Boyle in June 1980; they have a daughter, Sophie, and had another daughter, Alison, who passed away in 2017.
In 2013, visited North Korea with his daughter Sophie, Jared Cohen, and former New Mexico governor Bill Richardson.
Acquired a 20% stake in D.E. Shaw & Co. in May 2015; purchased Montecito Mansion for $30.8 million in September 2020.
In November 2020, Schmidt finalized plans to become a citizen of Cyprus, utilizing an immigrant investor program.

Early Career and Education

Interned at Bell Labs, co-authoring Lex in 1975, a software program for the Unix operating system.
Held technical positions at IT companies including Byzromotti Design, Bell Labs, Zilog, and Palo Alto Research Center (PARC).
Joined Sun Microsystems in 1983, holding various roles including director of software engineering and president of Sun Technology Enterprises.
Became CEO of Novell in April 1997, leaving in 2001 after the acquisition of Cambridge Technology Partners.

Google and Alphabet

Joined Google as CEO in 2001, overseeing daily operations and contributing to corporate infrastructure growth.
In 2011, transitioned to executive chairman of Google, and in 2015 became executive chairman of Alphabet; stepped down in December 2017.
Received a $100 million equity award from Google in 2011 when stepping down as CEO.
Left the board of Alphabet in June 2019 after 18 years, serving as a technical advisor until February 2020.

Philanthropy and Ventures

Co-founded Innovation Endeavors, a venture capital firm investing in companies like Uber, SoFi, and Zymergen.
Founded philanthropic venture Schmidt Futures in 2017, supporting science and technology initiatives.
In 2020, started working with the US government to create a tech college for coding, cybersecurity, and science education.

Other Roles and Affiliations

Chaired the Defense Innovation Advisory Board for the Department of Defense from March 2016 to November 2020.
Chaired the National Security Commission on Artificial Intelligence from 2019 to 2021.
Served on the boards of trustees of Carnegie Mellon University and Princeton University.
Chair of the Board of Directors at Broad Institute.
Chaired the National Security Commission on Emerging Biotechnology in 2022.

Controversies and Legal Involvement

Involved in the High-Tech Employee Antitrust Litigation case, resulting in a settlement of $415 million paid by Adobe, Apple, Google, and Intel.
Linked to activities at Google where non-recruiting agreements were implemented, leading to a settlement.

How long would it take you to become as rich as Eric Schmidt?

If you started with $10,000 and invested an additional $500 each month at a 44.01% CAGR, it would take you 5 years to reach Eric Schmidt's net worth of $25.4B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 40.45% compared to 10.08% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Eric Schmidt is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Eric Schmidt, Google is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey