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Eric Schmidt

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Eric Schmidt

Eric Schmidt
Schmidt at the 2011 G8 Summit
Born Eric Emerson Schmidt
(1955-04-27) April 27, 1955
Washington, D.C., U.S.[1]
Education Princeton University (B.S.)
UC Berkeley (M.S., Ph.D.)
Occupation Software engineer and businessman
Years active 1982–present
Employer Alphabet Inc.
Salary $1.25 million (2012)[2]
Net worth US$9.1 billion (June 2015)[3]
Title Executive Chairman of Alphabet Inc.
Political party Democratic
Spouse(s) Wendy Boyle (m. 1980)
Children 2 daughters (Sophie and Alison)
Parent(s) Eleanor and Wilson Schmidt
Website .com — Eric SchmidtGoogle

Eric Emerson Schmidt (born April 27, 1955) is an American software engineer, businessman, as well as the executive chairman of Alphabet Inc.[4] In 2013, Forbes ranked Schmidt as the 138th-richest person in the world, with an estimated wealth of $9.1 billion.[4]

As an intern at Bell Labs, Schmidt did a complete re-write of Lex, a program to generate lexical analysers for the Unix computer operating system. From 1997 to 2001, he was chief executive officer of Novell. From 2001 to 2011, he served as the CEO of Google. He served on various other boards in academia and industry, such as the boards of trustees for both Carnegie Mellon University and Princeton University.[5][6][7]


  • Early life 1
  • Career 2
    • Early career 2.1
    • Sun Microsystems 2.2
    • Google 2.3
    • Apple 2.4
    • Other ventures 2.5
    • President Barack Obama 2.6
  • Philanthropy 3
    • Schmidt Family Foundation 3.1
    • Schmidt Transformative Technology Fund 3.2
  • Public positions 4
    • Privacy 4.1
    • Network neutrality 4.2
    • Influence of Internet usage in North Korea 4.3
    • Advocating open Internet use in Burma 4.4
    • Publications 4.5
      • The New Digital Age 4.5.1
      • How Google Works 4.5.2
    • Schmidts Law 4.6
  • Other work 5
    • Art Collection 5.1
    • Bilderberg Group 5.2
    • Schmidt Ocean Institute 5.3
    • Acting 5.4
  • Personal life 6
  • See also 7
  • References 8
  • External links 9

Early life

Eric Emerson Schmidt was born in Washington, D.C. and spent his youth in its Northern Virginia suburbs.[1] He was one of three sons of Eleanor, who had a master's degree in psychology, and Wilson Emerson Schmidt, a professor of international economics at Virginia Tech and Johns Hopkins University, who worked at the U.S. Treasury Department during the Nixon Administration.[8][9][10][11] He grew up in Blacksburg, Virginia, and Falls Church, Virginia.[9][12]

Schmidt graduated from Yorktown High School in Arlington, Virginia, in 1972, after earning eight varsity letter awards in long-distance running.[13][14] He then attended Princeton University, where he started as an architecture major but then switched and earned a B.S. degree in electrical engineering in 1976.[8][15] From 1976 to 1980, Schmidt stayed at the International House Berkeley, where he met his future wife, Wendy Boyle. In 1979, at the University of California, Berkeley, Schmidt then earned an M.S. degree for designing and implementing a network (Berknet) linking the campus computer center with the CS and EECS departments.[16] There, he also earned a Ph.D. degree in 1982 in EECS, with a dissertation about the problems of managing distributed software development and tools for solving these problems.[17]


Early career

He was joint author (with Mike Lesk) during his summers at Bell Labs of Lex,[8][18] a program to generate a lexical-analyzer program from a regular-expression description and an important tool for compiler construction. He taught at the Stanford Graduate School of Business in the 2000s as a lecturer in strategic management.[19][20]

Early in his career, Schmidt held a series of technical positions with IT companies including Byzromotti Design, Bell Labs (in research and development),[9] Zilog, and Xerox’s Palo Alto Research Center (PARC).

Sun Microsystems

In 1983, Schmidt joined Sun Microsystems as its first software manager.[9] He rose to become director of software engineering, vice president and general manager of the software products division, vice president of the general systems group, and president of Sun Technology Enterprises.[21]

During his time at Sun, he was the target of two notable April Fool's Day pranks.[22][23][24] In the first, his office was taken apart and rebuilt on a platform in the middle of a pond, complete with a working phone. The next year, a working Volkswagen Beetle was taken apart and re-assembled in his office.

In April 1997, he became the CEO and chairman of the board of Novell.

In 2001, he departed after the acquisition of Cambridge Technology Partners.


Google founders Larry Page and Sergey Brin interviewed Schmidt. Impressed by him,[25] they recruited Schmidt to run their company in 2001 under the guidance of venture capitalists John Doerr and Michael Moritz.

In March 2001, Schmidt joined Google's

Business positions
Preceded by
Larry Page
Chief Executive Officer

Succeeded by
Larry Page
Preceded by
New Position
Executive Chairman
Alphabet, Inc
(formerly Google)

  • Eric Schmidt on Google+
  • Appearances on C-SPAN
  • Eric Schmidt at the Internet Movie Database
  • Eric Schmidt collected news and commentary at The Guardian
  • Eric Schmidt collected news and commentary at The New York Times
  • Eric Schmidt collected news and commentary at The Wall Street Journal
  • Eric Schmidt and Larry Page at Stanford, "How does Google make money?" (May 1, 2002)
  • Eric Schmidt talks about innovation on Executive Talks (November 2006)
  • Eric Schmidt at the Seoul Digital Forum on YouTube. (June 5, 2007)
  • Eric Schmidt speaks as part of NASA 50 years Lecture series on YouTube (January 17, 2008)
  • Mobile World Congress 2010 Keynote: Eric Schmidt, CEO, Google (February 2010)
  • iTunes: Google making of a modern company.
  • How Google Works (The best ideas, by TECHmED)

External links

  1. ^ a b "Google's Eric Schmidt talks about how to run the world (not that he wants to)".  
  2. ^  
  3. ^
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  5. ^ a b "Dr. Eric Schmidt Resigns from Apple’s Board of Directors". Press release (Apple Inc.). August 3, 2009. Retrieved June 15, 2011. 
  6. ^ a b "Google VP Named CMU Dean". Carnegie Mellon University. Retrieved 25 October 2015. 
  7. ^ a b (July 11, 2011). Retrieved on September 27, 2012.
  8. ^ a b c Ken Auletta. Googled: The End of the World As We Know It. Retrieved December 17, 2012. 
  9. ^ a b c d e f Tim Walker (December 14, 2012). "Is the executive chairman of Google really the arrogant defender of tax avoidance that his critics claim?". London: The Independent. Retrieved December 17, 2012. 
  10. ^ Corona Brezina (July 15, 2012). Sergey Brin, Larry Page, Eric Schmidt, and Google. Retrieved December 30, 2012. 
  11. ^
  12. ^ Hart, Kim (June 9, 2008). "Google News, or Lack Thereof". Retrieved December 19, 2012. 
  13. ^ McCaffrey, Scott (May 15, 2008). "New Inductees Named to Yorktown Hall of Fame". Sun Gazette. 
  14. ^ "HOF – Eric Schmidt". Retrieved December 19, 2012. 
  15. ^ Wolff, Josephine (February 6, 2007). "University Library joins Google Book Search". The Daily Princetonian. Retrieved May 28, 2008. 
  16. ^ Eric Schmidt (1979). "The Berkeley Network – A Retrospective" (PDF). Computer Science Division, Department of Electrical Engineering and Computer Science, University of California, Berkeley. Retrieved June 14, 2011. 
  17. ^ Schmidt, Eric (1982). Controlling Large Software Development in a Distributed Environment (PhD thesis). University of California, Berkeley. 
  18. ^ Lesk, M.E.; Schmidt, E. "Lex – A Lexical Analyzer Generator". Retrieved August 16, 2010. 
  19. ^ "Duffie, Schmidt Named a fellow of the Academy of Arts and Sciences". Stanford Graduate School of Business. May 1, 2007. Retrieved December 19, 2012. 
  20. ^ Dave Murphy (March 1, 2009). "Google’s Schmidt: 2009 is a Good Year to be a New Graduate". Stanford Graduate School of Business. Retrieved December 19, 2012. 
  21. ^ "Dr. Eric Schmidt Appointed Chairman of the Board and Chief Executive Officer of Novell, Inc.". News release (Sun Microsystems). March 18, 1998. Archived from the original on May 22, 2008. Retrieved June 14, 2011. 
  22. ^ "Eric Schmidt April Fool Cars 1986 & 2008". News (YouTube). May 16, 2008. 
  23. ^ "April Fools Prank on Eric Schmidt from 1986". News (YouTube). July 22, 2008. 
  24. ^ "Eric Schmidt April Fools Prank – MrRedusers". News (YouTube). March 3, 2010. 
  25. ^ "CEO Eric Eric Schmidt stood out because he 'was the only candidate who had been to Burning Man.'" From "Markoff and Zachary on Google"; quoted are John Markoff and Gregg Zachary. See also Business Week's "Eric Eric Schmidt, Google" from September 29, 2003: "One of the first orders of business was joining his new 20-something colleagues at Burning Man, a free-form festival of artistic self-expression held in a Nevada desert lake bed. Sitting in his office shortly after his return, tanned and slightly weary, Eric Schmidt couldn't have been happier. "They're keeping me young," he declared."
  26. ^ "Google Form S-1 Registration Statement".  
  27. ^ "Google Management: Eric Schmidt, Executive". Google Inc. Retrieved June 14, 2011. 
  28. ^ Ken Auletta (2011). Googled: The End of the World as We Know It. Virgin Books.  
  29. ^ "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. April 6, 2007. Retrieved June 15, 2011. 
  30. ^ "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. March 29, 2010. Retrieved June 14, 2011. 
  31. ^ a b "Google Inc. Definitive Proxy Statement". Schedule 14A. United States Securities and Exchange Commission. April 20, 2011. Retrieved June 15, 2011. 
  32. ^ Null, Christopher. "The 50 Most Important People on the Web ". PC World. March 5, 2007. Retrieved on March 5, 2007. Archived March 7, 2007 at the Wayback Machine
  33. ^ "Earlier this year, he pulled in almost US$90 million from sales of Google stock and made at least another US$50 million selling shares in the past two months as the stock leaped to more than US$300 a share." Mills, Elinor (August 3, 2005). "Google balances privacy, reach".  
  34. ^ Baldwin, Clare (January 23, 2011). "Google to give outgoing CEO Schmidt US$100 million". Reuters. 
  35. ^ "Larry Page is officially Google CEO again". Silicon Valley / San Jose Business. April 4, 2011. Retrieved June 14, 2011. 
  36. ^ "Google CEO Dr. Eric Schmidt Joins Apple's Board of Directors". Press release (Apple Inc.). August 29, 2006. Retrieved June 15, 2011. 
  37. ^ Brown, Joe. "High Flier". California Magazine. Retrieved September 25, 2013. 
  38. ^ unknown, Sam. "Google CEO Named Chairman of Washington Think Tank". The Chronicle of Philanthropy. Retrieved September 25, 2013. 
  39. ^ Riley, Charles (March 22, 2013). "Google's Eric Schmidt makes rare visit to Myanmar". CNN Money. Retrieved September 25, 2013. 
  40. ^ Kinetz, Erika (March 22, 2013). "Eric Schmidt Urges Myanmar To Embrace Free Speech". Associated Press. Retrieved September 25, 2013. 
  41. ^ New America Foundation, Board of Directors, accessed May 11, 2010
  42. ^ Eric Schmidt’s Newest VC Fund. Business Week (July 28, 2011). Retrieved on September 27, 2012.
  43. ^ "Companies". Innovation Endeavors website. Retrieved September 25, 2013. 
  44. ^ Langley, Monica; Jessica E. Vascellaro (October 20, 2008). "Google CEO Backs Obama".  
  45. ^ Mary Anne Ostrom (October 21, 2008). "Google CEO Eric Schmidt to stump for Obama". San Jose Mercury News. Retrieved June 15, 2011. 
  46. ^ Carney, Timothy (April 2, 2011) Google not proud of its politicking, Washington Examiner
  47. ^ Membership list of PCAST. Retrieved on September 27, 2012.
  48. ^ "Gore/Alliance for Climate Protection: All-In for Plug-Ins". Retrieved March 21, 2010. 
  49. ^ "About Us". Retrieved January 22, 2012. 
  50. ^ "11th Hour Project Grantees". 11th Hour Project website. Retrieved 18 October 2013. 
  51. ^ "Winning Teams Announced in the $1.4 Million Wendy Schmidt Oil Cleanup X CHALLENGE".  
  52. ^ "Eric and Wendy Schmidt Transformative Technology Fund". Princeton University website. Retrieved 21 October 2013. 
  53. ^ "Schmidt Fund to advance science through support for transformative technology". Princeton University website. Retrieved 21 October 2013. 
  54. ^ Bosker, Bianca (October 14, 2009). "Eric Schmidt: Princeton Receives $25M From Google CEO For Tech Fund". Huffington Post. Retrieved 21 October 2013. 
  55. ^ "Google Boss Pledges $25-Million for Princeton Tech Fund". The Chronicle of Philanthropy. Retrieved 21 October 2013. 
  56. ^ Parker, Hilary. "Inaugural Schmidt Fund awards enable innovative explorations in sensors and electronics". Princeton University news archive. Retrieved 21 October 2013. 
  57. ^ Zandonella, Catherine. "Schmidt Fund awards support transformative technologies". Princeton University news archive. Retrieved 21 October 2013. 
  58. ^ a b c Westhoven, Jennifer. "CNET: We've been blackballed by Google." (Archive) CNN Money. August 5, 2005. Retrieved on September 16, 2013. "Schmidt is officially Google's chief champion and defender, and has publicly said that there has to be a trade-off between privacy concerns and functionality. He has brought up Google's corporate motto, "Don't Be Evil" in those defenses. "
  59. ^ "Google CEO Eric Schmidt on privacy".  
  60. ^ "Media – Facebook must be weary of changing the rules". December 11, 2009. Retrieved March 21, 2010. 
  61. ^ "Google's Eric Schmidt: Society not ready for technology".  
  62. ^ Furness, Hannah. (May 25, 2013) [3]. Telegraph. Retrieved on May 26, 2013.
  63. ^ Holpuch, Amanda. "Google's Eric Schmidt says government spying is 'the nature of our society'." The Guardian. Friday September 13, 2013. Retrieved on September 16, 2013.
  64. ^ Franceschi-Bicchierai, Lorenzo. "[4]." [Mashable]. Tuesday November 5, 2013. Retrieved on November 7, 2013
  65. ^ Goldman, David (August 5, 2010). "Why Google and Verizon's Net neutrality deal affects you". CNNMoney (CNN). Retrieved August 6, 2010. 
  66. ^ "'"Google Execs Say 'The Power Of Information Is Underrated. All Tech Considered. NPR. April 23, 2013. Retrieved August 19, 2013. Google executives Eric Schmidt and Jared Cohen recently returned from a highly publicized trip to North Korea. They discuss the role of the Internet in more repressive countries. 
  67. ^ "Schmidt’s visit to North Korea revealed limits, benefits of private diplomacy". 
  68. ^ "Eric Schmidt Looking at Things". tumblr. Retrieved August 11, 2013. 
  69. ^ Youkyung Lee (August 16, 2013). "Skepticism as NKorea shows home-grown smartphone". AP Newswire. Stars & Stripes. Retrieved August 19, 2013. The Korean Central News Agency's Aug. 10 report said the factory began manufacturing smartphones 'a few days ago' ... Kim Mun-gu, a manager at a South Korean mobile phone company, said the Arirang smartphone appears to be using the Android operating system. He said the photos aren't convincing as proof the North is manufacturing the phones 
  70. ^ Hla Tun, Aung (March 22, 2013). "Google's Schmidt tells Myanmar a free Internet can anchor reform". Reuters website. Retrieved 25 October 2013. 
  71. ^ Riley, Charles (March 22, 2013). "Google's Eric Schmidt makes rare visit to Burma". CNN website. Retrieved 25 October 2013. 
  72. ^ Kinetz, Erika (March 22, 2013). "Eric Schmidt Urges Myanmar To Embrace Free Speech". Associated Press. Retrieved 25 October 2013. 
  73. ^ Cohen, Jared; Eric Schmidt (December 2010). "The Digital Disruption – Connectivity and the Diffusion of Power". Foreign Affairs magazine. Retrieved 25 October 2013. 
  74. ^ Kaufman, Leslie (December 2, 2012). "Book by 2 From Google Takes a Deep Look at the Web". New York Times Media Decoder blog. Retrieved 25 October 2013. 
  75. ^ Shankland, Stephen. "Google execs' 'New Digital Age' resists cyber-siren song". CNET website. Retrieved 25 October 2013. 
  76. ^ "The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs". Amazon. 24 February 2014. 
  77. ^ "Best Sellers".  
  78. ^
  79. ^ Max Wallis (September 11, 2014). "How Google Works by Eric Schmidt and Jonathan Rosenberg, book review".  
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  86. ^ "Bilderberg 2011 list of participants". Retrieved August 16, 2013. 
  87. ^ "The Trilateral Commission: Executive Committee" (PDF). Retrieved 8 January 2014. 
  88. ^ Kerry A. Dolan (August 1, 2013). "Google Chairman Eric Schmidt's Falkor, A Dream Ship For Ocean Researchers, Makes San Francisco Debut". Forbes. Retrieved August 11, 2013. 
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  90. ^ "Loose Ends: Presidential performance". Almanac News. October 6, 1999. Retrieved November 10, 2011. 
  91. ^ Holson, Laura M. (August 29, 2012). "The New York Times". Retrieved 16 January 2014. 
  92. ^ a b "Married Eric Schmidt dating concert pianist Chau-Giang Nguyen". New York Post. September 3, 2012. Retrieved December 17, 2012. 
  93. ^ Amira, Dan (July 2013). "Inside Eric Schimdt’s Lavish Sex Palace – Daily Intelligencer". New York Magazine. Retrieved July 25, 2013. 
  94. ^ "Married Google chairman Eric Schmidt spending time with attractive 45-year-old brunette Lisa Shields". New York Post. July 28, 2011. 
  95. ^ "Brian Grazer’s ex-fiancee still sports his diamond ring". New York Post. September 29, 2012. Retrieved December 17, 2012. 
  96. ^ "Google CEO and serial womanizer Eric Schmidt spends 15 million dollars on private, no doorman Manhattan penthouse and then has it totally soundproofed". London: Daily Mail. July 25, 2013. Retrieved July 25, 2013. 
  97. ^ Grant, Drew (May 2, 2013). "River of Diamonds: Vietnamese Artist Coco Holds Gallery Show at BoConcept".  
  98. ^ "Eric Schmidt's daughter details North Korea visit". CNN Money. January 20, 2013. 
  99. ^ Greg Dalton (May 2013). "Eric Schmidt and Jared Cohen at the Commonwealth Club". San Francisco: Climate One. Retrieved August 19, 2013. 
  100. ^ Donald Kirk (February 4, 2013). "A quiet envoy to the hermit kingdom of North Korea". Christian Science Monitor. Retrieved August 11, 2013. 
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See also

In January 2013, Schmidt visited North Korea with his daughter Sophie,[98] Jared Cohen and former New Mexico governor Bill Richardson.[99][100]

In 2012, he was dating concert pianist and artist Chau-Giang Nguyen (Nguyễn Thị Châu Giang), who was formerly engaged to Hollywood Oscar-winning TV and movie producer Brian Grazer until they split in 2011.[92][95][96][97]

In June 1980, Schmidt married Wendy Susan Boyle (born in Short Hills, New Jersey, in 1955). They lived in Atherton, California, in the 1990s.[90] They have two daughters, Sophie and Allison.[9][91] The two separated in 2011.[9][92][93] That year, Schmidt dated Lisa Shields, a communications executive for the Council on Foreign Relations.[94]

Personal life

In 2014, he had a cameo appearance in the film Dumb and Dumber To, starring Jim Carrey and Jeff Daniels. He also had a cameo appearance in the HBO show Silicon Valley.[89]


With his wife, Wendy, he formed the Schmidt Ocean Institute which supports oceanographic research by operating RV Falkor.[88]

Schmidt Ocean Institute

He is a member of the Bilderberg Group and attended the Bilderberg conference in 2011,[85] 2012 and 2013.[86] He also has a listed membership with the Trilateral Commission.[87]

Bilderberg Group

Schmidt was on the list of ARTnews's 200 top art collectors in 2008.[84]

Art Collection

Other work

Schmidts Law states: "When the network becomes as fast as the backplane of your computer, the computer hollows out, its components dispersing across the Web, its value migrating to search and sort functions." [83]

Dating back to early 1990s and dubbed "Schmidts Law" by George Gilder when Schmidt predicted that the network will become the computer.[81][82]

Schmidts Law

In 2014, Schmidt co-authored the New York Times best-selling book How Google Works[77] with Jonathan Rosenberg, former Senior Vice President of Products at Google and current advisor to Google CEO Larry Page, and Alan Eagle.[78] The book is a collection of the business management lessons learned over the course of Schmidt and Rosenberg's time leading Google.[79] In his book, Eric Schmidt argues that successful companies in the technology-driven internet age, should attract smart and creative employees and then create an environment where they can thrive. He argues that the traditional business rules that make a company successful have changed. The book states that companies should maximize freedom and speed, and decision-making should not lie in the hands of the few. It also emphasizes that individuals and small teams can have a massive impact on innovation.[80]

How Google Works

In 2013, Schmidt and Jared Cohen, director of the Google Ideas think tank, published The New Digital Age: Reshaping the Future of People, Nations and Business, which discusses the geopolitical implications of increasingly widespread Internet use and access to information. The book was inspired by an essay in Foreign Affairs magazine the two co-wrote in 2010.[73][74][75] He also wrote the preface to The Startup Game: Inside the Partnership between Venture Capitalists and Entrepreneurs, by William H. Draper, III.[76]

The New Digital Age


In March 2013, Schmidt visited Burma, which had been ruled by a military junta for decades and is transitioning to a democracy. During his visit, Schmidt spoke in favor of free and open Internet use in the country, and was scheduled to meet with the country’s president.[70][71][72]

Advocating open Internet use in Burma

In January 2013, Schmidt and Jared Cohen, director of Google Ideas visited North Korea along with former New Mexico governor Bill Richardson.[66] The trip was highly publicized and controversial due to the ongoing tension between North Korea and the United States.[67] Tumblr, a Yahoo!-owned social-blogging site, featured a page titled, "Eric Schmidt looking at things", and included photographs of Mr. Schmidt looking intently at computer screens and other scenes in North Korea.[68] On August 10, 2013, North Korea announced an indigenous smartphone, named Arirang, that may be using the Google Android operating system.[69]

Influence of Internet usage in North Korea

In August 2010, Schmidt clarified his company's views on network neutrality: "I want to be clear what we mean by Net neutrality: What we mean is if you have one data type like video, you don't discriminate against one person's video in favor of another. But it's okay to discriminate across different types. So you could prioritize voice over video. And there is general agreement with Verizon and Google on that issue."[65]

Network neutrality

In 2005 Google blacklisted CNET reporters from talking to Google employees for one year, until July 2006, after CNET published personal information on Schmidt, including his political donations, hobbies, salary, and neighborhood, that had been obtained through Google searches.[58]

In 2013 Schmidt stated that the government surveillance in the United States was the "nature of our society" and that he was not going to "pass judgment on that".[63] However, on the revelation that the NSA has been secretly spying on Google's data centers worldwide, he called the practice "outrageous" and criticized the NSA's collection of Americans phone records[64]

At the [62]

During an interview aired on December 3, 2009, on the CNBC documentary "Inside the Mind of Google," Schmidt was asked, "People are treating Google like their most trusted friend. Should they be?" He replied: "I think judgment matters. If you have something that you don't want anyone to know, maybe you shouldn't be doing it in the first place. But if you really need that kind of privacy, the reality is that search engines, including Google, do retain this information for some time. And it's important, for example, that we are all subject in the United States to the Patriot Act. It is possible that information could be made available to the authorities."[59][60]

Publicly Schmidt stated that, as paraphrased by CNN/Money, "there has to be a trade-off between privacy concerns and functionality."[58] His explanations referenced "Don't Be Evil".[58]


Public positions

In 2009, Eric and Wendy Schmidt endowed the Schmidt Transformative Technology Fund at Princeton University with $25 million. The Fund’s purpose is to support cutting edge research and technology in the natural sciences and engineering, encouraging collaboration across disciplines.[52][53][54][55] It awarded $1.2 million in grants in 2010 and $1.7 million in grants in 2012.[56][57]

Schmidt Transformative Technology Fund

Ms. Schmidt offered the prize purse of the Wendy Schmidt Oil Cleanup X CHALLENGE, a challenge award for the efficient capturing of crude oil from seawater motivated by the Deepwater Horizon oil spill.[51]

The Schmidts, working with Heart Howerton, a San Francisco architectural firm that specializes in large-scale land use, have inaugurated several projects on the island of Nantucket that seek to sustain the unique character of the island and to minimize the impact of seasonal visitation on the island's core community.

The Schmidt Family Foundation's subsidiaries include ReMain Nantucket and the Marine Science and Technology Foundation; its main charitable program is the 11th Hour Project. The Foundation has also awarded grants to the Natural Resources Defense Council and the Energy Foundation.[50] The Foundation is the main funder of the Schmidt Ocean Institute, supporting the acquisition and operation of its research vessels.

Schmidt and his wife established the Eric & Wendy Schmidt Data Science for Social Good Fellowship, a University of Chicago summer school program for aspiring data scientists.

The Schmidt Family Foundation was established in 2006 by Wendy Schmidt and Eric Schmidt to address issues of sustainability and the responsible use of natural resources.[49]

Schmidt Family Foundation


Schmidt has proposed that the easiest way to solve all of the domestic problems of the United States at once is by a stimulus program that rewards renewable energy and, over time, attempts to replace fossil fuels with renewable energy.[48]

Schmidt was an informal advisor and major donor to Barack Obama's 2008 presidential campaign, and began campaigning the week of October 19, 2008, on behalf of the candidate.[44] He was mentioned as a possible candidate for the Chief Technology Officer position, which Obama created in his administration,[45] and Obama considered him for Commerce Secretary.[46] After Obama won in 2008, Schmidt became a member of President Obama's transition advisory board and has since become a member of the United States President's Council of Advisors on Science and Technology (PCAST).[47] Schmidt has served on Google’s government relations team.

President Barack Obama

Founded in 2010 by Schmidt and Dror Berman, Innovation Endeavors is an early-stage venture capital. The fund, based in Palo Alto, California, invested companies such as Mashape, Uber (company), Quixey, Gogobot, BillGuard, and Formlabs.[42][43]

The New America Foundation is a non-profit public-policy institute and think tank, founded in 1999. Schmidt succeeded founding chairman James Fallows in 2008.[41]

Schmidt sat on the boards of trustees for both Carnegie Mellon University and Princeton University.[5][6][7] He taught at Stanford Graduate School of Business in the 2000s.[37][38] Schmidt serves on the boards of the Khan Academy and The Economist.[39][40]

Other ventures

On 3 August 2009, it was announced that Schmidt would resign from the board of directors at Apple due to conflicts of interest amid the growing competition between Google and Apple.

On 28 August 2006, Schmidt was elected to Apple Inc.'s board of directors.[36]


On 4 April 2011, Page replaced Schmidt as the CEO.[35]

On 20 January 2011, Google announced that Schmidt would step down as the CEO of Google but continue as the executive chairman of the company and act as an adviser to co-founders Page and Brin.

In its 2011 'World's Billionaires' list, Forbes ranked Schmidt as the 136th-richest person in the world, with an estimated wealth of $7 billion.[4] Google gave him a $100 million equity award in 2011 when he stepped down as CEO.[34]

Schmidt is one of a few people who became billionaires (in United States dollars) based on stock options received as employees in corporations of which they were neither the founders nor relatives of the founders.[33]

In 2007, PC World ranked Schmidt as the first on its list of the 50 most important people on the Web, along with Google co-founders Page and Brin.[32]

In 2004, Schmidt and the Google founders agreed to a base salary of US $1 (which continued through 2010) with other compensation of $557,465 in 2006,[29] $508,763 in 2008, and $243,661 in 2009. He did not receive any additional stock or options in 2009 or 2010.[30][31] Most of his compensation was for "personal security" and charters of private aircraft.[31]

Upon being hired at Google, Eric Schmidt was paid a salary of $250,000 and an annual performance bonus. He was granted 14,331,703 shares of Class B common stock at $0.30 per share and 426,892 shares of Series C preferred stock at purchase price of $2.34.[28]

[27] According to Google, Schmidt's job responsibilities included "building the corporate infrastructure needed to maintain Google's rapid growth as a company and on ensuring that quality remains high while the product development cycle times are kept to a minimum."[26]

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