Steel Perlot

History

2023: $100 million investment from Eric Schmidt

On October 23, 2023, it became known that the former chief executive officer of Google, Eric Schmidt, invested $100 million in Steel Perlot, headed by his beloved Michelle Ritter. However, the financial situation of this firm is unstable.

The 68-year-old Schmidt, whose fortune Forbes estimates at $18.4 billion (as of October 27, 2023), began a romantic relationship with the 29-year-old entrepreneur Ritter in 2021. They, in particular, were spotted together at one of Virgin Galactic's events in New Mexico. The girl runs Steel Perlot, which is an incubator for startups in the technology field. As of October 2023, Steel Perlot has invested at least $20 million in more than a dozen young businesses, including artificial intelligence company Pryon, cryptocurrency trading startup Tristero and payment platform Keeta.

Eric Schmidt and Michel Ritter

At the same time, Steel Perlot itself is experiencing financial difficulties. It is known that in January 2023, the company turned to Schmidt's family office, requesting almost $2.5 million to pay off wage arrears and other debts accumulated, including from subsidiaries. The Schmidt Foundation provided these funds. In an interview with Forbes, Ritter said Steel Perlot has several other investors. But Forbes could find no evidence that anyone other than Schmidt provided Steel Perlot with significant funds.

According to available information, Schmidt meets with other women, although as of 2023 she remains married to Wendy Susan Schmidt, with whom she has been married for more than 40 years. The couple have two daughters - Sophie and Alison. At the same time, Wendy Schmidt is the president of the Schmidt Family Foundation, which owns charitable assets worth more than $1 billion.^[1]

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