Assets
Biography
Eric Emmerson Schmidt was born on April 27, 1955 in Washington, DC (USA).
Eric Schmidt received a Bachelor of Science degree in electrical engineering from Princeton University, as well as a doctorate in computer science philosophy from the University of California, Berkeley.
Schmidt's career began as a member of the research team at the Laboratory of the Xerox Palo Alto Research Center (Xerox Palo Alto Research Center), and he also held leading positions in the Bell and Zilog laboratories.
1983: Manager at Sun Microsystems
In 1983, Schmidt began working at Sun Microsystems as a software manager. At Sun, he was involved in the development of Java, independent of Sun's software technology platform, and also determined Sun's Internet strategy, which later led him to the position of chief technology manager.
1997: Novell Executive Director
From 1997 to 2001, Eric Schmidt worked as executive director of Novell. He left Novell after being acquired by Cambridge Technology Partners.
2001: Google chief executive
Google founders Sergey Brin and Larry Page hired Schmidt to give him control of the company in 2001. Schmidt served as a Board member at Google in March 2001, and became Google's chief executive in August 2001. At Google, Schmidt was responsible for current operations, Google's management system looked like a triumvirate. In fact, Schmidt had legal duties that tend to be imposed on the manager of a public company, and are to manage the activities of vice presidents and a commercial company.
2009: Leaving Apple's board of directors
Eric Schmidt left the board of directors of Apple. From August 2006 to August 3, 2009, Schmidt served on Apple's board of directors. "Eric was a great board member at Apple, he put his time, his talent and wisdom into the company. Unfortunately, since Google is part of Apple's key business, with Android and now Chrome OS, Eric's board performance will significantly decrease, as he will be forced to increasingly refuse to attend many of our meetings due to a potential conflict of interest. Therefore, we jointly decided that now is the right time for Eric to leave the Apple board of directors, "said Steve Jobs, CEO of Apple.
2010: Joining the Skolkovo Board of Trustees
In June 2010, Eric Schmidt joined the Board of Trustees of the Skolkovo Foundation.
2011: Stepping down as head of Google
In
January 2011, it became known that he would Google give CEO Eric Schmidt, who will transfer to the position of Chairman of the Board of Directors from April 4, 2011, a bonus in the form of shares worth 100 million, the dollars agency reported. Bloomberg
Schmidt's bonus package included both the company's shares themselves and options to buy them, valid for the next four years. Google CEO will receive a similar reward for the first time since he joined the company in 2001.
It is noteworthy that the owners of Google allocated Schmidt a block of shares at a time when he himself decided to sell part of the company's existing securities. According to a document filed with the US Exchange and Securities Commission (SEC), as of December 2010, Schmidt owned approximately 9.2 million shares of Google, equivalent to 2.9% of all shares in the company or a 9.6% share of the vote in decision-making.
The document indicates that Schmidt plans to sell about 534 thousand ordinary shares of Google class A, which will reduce his stake in the company to 2.7%, and the share of votes - to 9.1%. Based on Google's stock price at the NASDAQ close of trading on January 21, 2011, the deal could be worth about $326.7 million and the entire stake held by Schmidt could be valued at $5.63 billion.
On April 20, 2011, it became known that in his new position as chairman of the board of Google with an executive function, Eric Schmidt will receive a salary of $1.25 million a year[1].
Previously, Schmidt's official salary at the company was $1, just like both founders of the Internet giant. In addition to salary, Schmidt is also entitled to bonuses, which in 2011 can amount to $6 million, reports AR.
This became known from documents filed by the company with the US Securities and Exchange Commission (SEC - Securities and Exchange Commission). It is also known that after leaving the post of CEO, Schmidt received from the company a reward of $100 million in shares and options.
2012: Sale of Google shares
On February 21, 2012, it became known that Google Chairman Eric Schmidt plans to sell his stake in the company for $1.45 billion.
At the end of 2011, Schmidt owned about 9.1 million Class A and B ordinary shares or a 2.8% stake in Google. Currently, the former CEO, and now chairman of the board of directors of the Internet giant, plans to get rid of 2.4 million ordinary shares. In accordance with documents filed with the US Securities Commission on February 17, 2012, it will thereby reduce its ownership interest in the company during 2012 by about 0.7%.
The text of the document states that after the sale of these securities in accordance with the trading plan, Schmidt will retain approximately 6.7 million shares, which to date will amount to approximately 2.1% of Google's outstanding capital and about 7.3% of the company's voting shares. On February 17, trading closed at $604 per Google share, and the message about the sale came after the close of trading.
Officially, Google said Schmidt's decision to get rid of so many shares at a time would help him "diversify his own investitsionnyy portfolio." And maybe Schmidt is preparing for "life after Google": rumors about his possible political career appeared in the media, allegedly he also spoke about the likelihood of creating his own television show.
As of January 2010, Schmidt owned 12% of Google's common stock. After the sale, he will still have a reserve in the form of securities worth about $4 billion.
2013: Yacht sale for €10m
In April 2013, it became known that the chairman of the board of directors of Google, Eric Schmidt, could not sell his unusual yacht. Since it was put up for sale, the cost of the vessel with the pathos name "Lone Ranger" has decreased from $20 million to $14 million, according to a specially issued advertising brochure.
The advertisement of the ship focuses on its technical characteristics: in particular, it indicates its ability to move 31 thousand miles with 12 nodes and fuel costs of 1.3 million liters. The yacht will be auctioned once again on April 20, 2013 as part of the Antibes Yacht Show. According to experts, they can offer from 3 to 10 million euros for it.
Interiors of Eric Schmidt's €10m yacht for sale
The pamphlet also notes that "The Lone Ranger" is the epitome of "understated luxury," and in addition, it is "the perfect floating means for traveling to the most remote parts of the world."
2016: Appointed Head of the Pentagon Innovation Board
On March 2, 2016, it became known about the appointment of Eric Schmidt as head of the Pentagon Innovation Council. The former CEO of Google will lead a structure specializing in advising DOD leadership on new technological developments.
According to the Reuters news agency, citing US Secretary of Defense Ashton Carter, Eric Schmidt will head the new Defense Innovation Advisory Board (DIAB). This statement was made at the RSA cybersecurity conference in San Francisco.
According to Carter, the group created will provide the Pentagon with access to "the brightest technical minds focused on innovation." In turn, Eric Schmidt said that the new council will help the US military reduce the "clear lag" from the technology industry.
DIAB members are expected to help keep the Pentagon up to date with the latest high-tech ideas and innovate in their work. In particular, mobile and cloud applications, organizational data exchange systems, etc. will be developed in the interests of the Ministry of Defense. At the same time, the council will not have access to strategic classified information about hostilities.
 | If we do not develop innovation and maintain competitiveness, we will not be able to be the military force that the country needs and deserves it, "Carter said. |  |
The Pentagon's innovation board will include 12 people personally selected by Asheton Carter and Eric Schmidt. We are talking about the heads of private companies and public organizations that have experience in introducing new technologies, the US Department of Defense said.
As Schmidt told reporters, the list of possible members of the council has already been drawn up, but no discussions were held with them. The first meeting with potential DIAB participants is scheduled for April 2016.[2]
2017: Resigns as Alphabet board chairman
December 21, 2017 left the post of chairman of the board of directors of Alphabet.
2019
Investing in Cost-Effective Nebia Shower Systems Developer
In February 2019, it became known that Apple CEO Tim Cook and former Google CEO Eric Schmidt invested in startup Nebia. Thanks to money from these and other investors, the company released a commercial product and began updating it. Read more here.
Allegations of harassment and sex without obligation
At the end of August 2019, the post of a former Google employee, published in Medium, again raised the topic of harassment in the workplace and sex without obligations, which Google bosses allowed themselves. Read more here.
2020: Obtaining Cypriot citizenship
In early November 2020, it became known that former Google CEO Eric Schmidt received Cypriot citizenship, becoming one of the most famous Americans, taking the chance to expand his capabilities in the EU.
While it is unclear exactly why Schmidt achieved citizenship in Cyprus, the new passport gives him the ability to travel without restrictions to the European Union and also provides attractive tax conditions. The interest of US citizens in non-American citizenship increased sharply during the COVID-19 coronavirus pandemic, which, among other things, sharply limited the ability of Americans to travel abroad. Experts believe the interest is also partly due to American concerns about political instability in the United States. A spokesman for Eric Schmidt declined to comment on the entrepreneur's motives and plans for the future.
The lion's share of the 4,000 citizenship recipients since 2013 are wealthy people from Russia, according to people who advise applicants for Cypriot citizenship. Historically, the Cypriot citizenship program was not even designed for Americans, since they had the opportunity to travel freely in Europe before the start of the pandemic. In 2020, American interest still increased markedly.
It is not known what role the coronavirus and new travel restrictions could play in Schmidt's decision to apply for Cypriot citizenship. According to his advisers, Schmidt probably applied during the start of active restrictions related to the pandemic, or even before them. Schmidt's wife, philanthropist Wendy Schmidt, and his daughter Sophie Schmidt, also applied and received approval.
Nuri Katz, founder of Apex Capital Partners, an immigration consultant for the Cypriot government, suggested Schmidt "feels the need to diversify his citizenship."
| | Eric Schmidt cannot go to Europe, - said Katz. - He's just like everyone else, like so many other wealthy people who want to be able to choose.[3] | |
2022: Creation of a charitable foundation to promote AI research
On February 16, 2022, information appeared that the former executive director of Google Eric Schmidt announced the creation of a charitable foundation with a total capital of $125 million, which will assist research in the field of artificial intelligence. First of all, we are talking about research aimed at solving fundamental problems manifested when using artificial intelligence technologies, including bias, the possibility of harm and abuse. The list also includes geopolitical conflicts and the scientific limitations of the technology itself. Read more here.
2023
Book and article on the future of drones in warfare
Schmidt has written extensively about how AI drones are the future of war. In collaboration with Henry Kissinger, he even published The Age of AI.
Eric Schmidt detailed the military's advantages drones in an article The Wall Street Journal in July 2023. Compared to the fantastic budget of the Ministry of Defense USA , this is a real penny. In the same column, Schmidt called kamikaze drones the "most important" new technology that will be key to defeating future Russia enemies as well. It is clear from the text of the article that we are talking not only about the current conflict, but also about future ones in which the United States expects to gain superiority through the active use of AI systems.
Cancellation of the purchase of a yacht due to the claim of Andrei Guryev's daughter
On September 9, 2023, it became known that former Google CEO Eric Schmidt refused to buy an Alfa Nero superyacht worth approximately $67.6 million. The reason is a lawsuit by the daughter of Russian businessman Andrei Guryev, who challenged the upcoming deal.
The yacht was arrested by the authorities of Antigua and Barbuda in February 2022 due to the fact that Guryev fell under US sanctions. The ship was put up for sale after it stood ownerless in the local harbor for more than a year. In June 2023, Schmidt won the auction for the sale of the yacht, but was forced to withdraw the application. Individuals close to the ex-head of Google said that any property that is the subject of legal proceedings cannot be considered "free and transparent."
| | Schmidt, due to legal differences, concluded that we would not be able to grant him clear ownership of the ship, "said Ronald Sanders, Ambassador of Antigua and Barbuda to the United States. | |
The rights to Alfa Nero in court were presented by Yulia Guryeva-Motlokhov, the daughter of businessman Guryev. According to her statements, she is a beneficiary of Tyne Trust and Flagstaff Trust, which own the Alfa Nero yacht and artworks placed on it. At the same time, the Office of Foreign Assets Control of the US Treasury Department claimed that Guryev bought Alfa Nero in 2014 for $120 million. The billionaire himself said that he was not the owner of the vessel, but only periodically uses it for his own needs.
The 80-meter-long Alfa Nero yacht was built in 2007. On board can be 12 guests and up to 26 crew members. There is a swimming pool, helipad, Jacuzzi, spa, gym and beauty salon. The vessel has a range of about 10,670 km at a speed of 15 knots (28 km/h), and the maximum speed reaches 21 knots (39 km/h).[4]
Investing $100 million in your beloved's company
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. Read more here.
2024: Creation of the company "White Stork" milking the supply of military drones to Ukraine
Schmidt is using Pentagon ties to his advantage. He created a company that makes money on kamikaze drones with artificial intelligence. The main market is Ukraine.
In January 2024, he published an article under the heading "Ukraine is losing the war on drones." Schmidt details how he communicated closely with Ukrainian officials and how poorly Western weapons oppose Russian weapons systems. He also notes that in 2024 Ukraine will purchase more than a million drones from its allies. And the only supplier of drones will be his company "White Stork."
According to Forbes, Schmidt created "White Stork" [White Stork] through several companies. One of them is called Volya Robotics OÜ, it lists Schmidt as the beneficiary, and an employee of his family office as the only member of the board of directors. The White Stork project also employs several former technology executives, including Sebastian Troon, co-founder of Google's lunar development lab.
Notes
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