Eric Schmidt

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Eric Emerson Schmidt (born April 27, 1955) is an American businessman and software engineer.

He is currently chairman of the US Department of Defense's Defense Innovation Advisory Board.

He is known for being the CEO of Google from 2001 to 2011, executive chairman of Google from 2011 to 2015 and executive chairman of Alphabet Inc.

from 2015 to 2017.

In 2017, Forbes ranked Schmidt as the 119th-richest person in the world, with an estimated wealth of US$11.1 billion.As an intern at Bell Labs, Schmidt did a complete re-write of Lex, a software program to generate lexical analysers for the Unix computer operating system.

From 1997 to 2001, he was chief executive officer (CEO) of Novell.

From 2001 to 2011, Schmidt served as the CEO of Google.

He has served on various other boards in academia and industry, including the Boards of Trustees for Carnegie Mellon University, Apple, Princeton University, and Mayo Clinic.

Early life

Schmidt was born in Falls Church, Virginia, and grew up in Falls Church and Blacksburg, Virginia. He is 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. Schmidt spent part of his childhood in Italy as a result of his father's work and has stated that it had changed his outlook.

Schmidt graduated from Yorktown High School in the Yorktown neighborhood of Arlington County, Virginia, in 1972, after earning eight varsity letter awards in long-distance running. He attended Princeton University, starting as an architecture major and switching to electrical engineering, earning a Bachelor of Science in Engineering degree in 1976.

From 1976 to 1980, Schmidt resided at the International House Berkeley, where he met his future wife, Wendy Boyle.

In 1979, at the University of California, Berkeley, Schmidt earned an M.S. degree for designing and implementing a network (Berknet) linking the campus computer center with the CS and EECS departments. There, he also earned a PhD degree in 1982 in EECS, with a dissertation about the problems of managing distributed software development and tools for solving these problems.

Personal life

In June 1980, Schmidt married Wendy Susan Boyle (born 1955 in Short Hills, New Jersey). They lived in Atherton, California, in the 1990s. They have a daughter, Sophie, and had another, Alison, who died in 2017 from an illness. A number of Schmidt's outside relationships have attracted publicity, but he continues philanthropic efforts in the name of him and his wife.

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

In 2015, Schmidt acquired a 20% stake in D.E. Shaw & Co. Schmidt is also an investor in CargoMetrics, another quant hedge fund.

In April 2015, Schmidt delivered the commencement address at Virginia Tech, located in Schmidt's childhood home of Blacksburg, Virginia. This came on the heels of Schmidt making a $2 million donation to Virginia Tech's College of Engineering. Schmidt's philanthropy is the result of his longstanding friendship with Virginia Tech's former president Paul Torgersen. His donation funded the Paul and Dorothea Torgersen Dean's Chair in Engineering.

In September 2020, Schmidt purchased Montecito Mansion, a 22,000-square-foot estate overlooking Santa Barbara, for $30.8 million.

In November 2020, Recode reported that Schmidt is finalizing his plan to become a citizen of Cyprus. He is one of the highest-profile people to take advantage of the immigrant investor programs that offers a "passport-for-sale". This passport can be used to enter and live in any country of the European Union.

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Career

Schmidt began his career with a number of scientific positions with IT firms, including Byzromotti Design, Bell Labs (in research and development), Zilog, and Palo Alto Research Center (PARC).

He and Mike Lesk created Lex, a compiler that converts lexical-analyzers from regular expression descriptions, during his summers at Bell Labs.

Schmidt became Sun Microsystems' first software programmer in 1983. He rose to become director of software engineering, vice president, general manager of the software products division, vice president of the general systems group, and president of Sun Technology Enterprises.

During his time on Sun, he was the object of two major April Fool's Day pranks. His office was first disassembled and rebuilt on a platform in the middle of a pond, complete with a working phone and workstation on the corporate Ethernet network. In his office next year, a working Volkswagen Beetle was disassembled and reassembled.

Schmidt became the CEO and chairman of Novell's board in April 1997. He presided over a period of decline at Novell, where its IPX protocol was being replaced by open TCP/IP services, but at the same time Microsoft was providing free TCP/IP stacks in Windows 95, making Novell much less profitable. After the acquisition of Cambridge Technology Partners in 2001, he resigned.

Larry Page and Sergey Brin, the Google founders, interviewed Schmidt. He was impressed by him, and they hired Schmidt to head their company in 2001 under the tute of venture capitalists John Doerr and Michael Moritz.

Schmidt became the company's CEO in August 2001 and joined Google's board of directors as chair in March 2001. Schmidt shared responsibility for Google's daily activities with the founders, Page and Brin. Schmidt had previously been given the CEO of a public company and was primarily concerned with the hiring of the vice presidents and the sales team prior to the Google initial public offering. Schmidt's job responsibilities included "building the corporate infrastructure required to maintain Google's explosive expansion as a company" and ensuring that quality remains high while product development cycle times are kept to a minimum."

Eric Schmidt was given a $250,000 salary as a result of his service. He was given 14,331,703 shares of Class B common stock at $0.30 per share and 426,892 shares of Series C preferred stock at a purchase price of $2.34.

Schmidt and the Google founders agreed to a base salary of US$1 in 2004 (which continued through 2010), plus other compensation of $557,465 in 2006, $58,763 in 2008, and $243,661 in 2009. In 2009 or 2010, he did not receive any additional stocks or options. The bulk of his compensation was for "personal safety" and private aircraft charters.

Schmidt appeared on PC World's list of the 50 Most Influential People on the Web in 2007, as well as Google co-founders Page and Brin.

Schmidt was one of a few people who earned billionaires (in United States dollars) based on stock options in companies for which the founders nor relatives of the founders, such as Meg Whitman, were paid.

Forbes named Schmidt as the 136th richest individual in the world in 2011, according to Forbes' 2011 edition's World's Billionaires' list, with an estimated net worth of $7 billion.

Schmidt will step down as the CEO of Google on January 20, 2011, but he will take the role as executive chairman of the organization and serve as an advisor to co-founders Page and Brin. When he stepped down as CEO, Google gave him a $100 million equity award in 2011. Page replaced Schmidt as CEO on April 4, 2011.

Schmidt revealed on December 21, 2017 that he would be stepping down as Alphabet's executive chairman. "Larry, Sergey, Sundar, and I" all agree that the time has come in Alphabet's transition."

Schmidt resigned as Alphabet's technical advisor in February 2020 after 19 years with the firm.

Eric Schmidt will chair the Defense Innovation Advisory Board, which was announced in March 2016. The advisory board acts as a forum for connecting keystays in the technology sector with those in the Pentagon.

Schmidt screened emails and other correspondence to be aware of potential conflicts of interest within the role, where Schmidt retained his position as technical advisor to Alphabet and where Google's bidding for the multi-million dollar Pentagon cloud contract, the Joint Enterprise Defense Infrastructure, or JEDI, was ongoing: "I'm not allowed to be briefed" regarding Google or Alphabet's defense department. He resigned in November 2020 after being in charge of the position from November to December.

Schmidt chaired the National Security Commission on Artificial Intelligence from 2019 to 2021, with Robert O. Schmidt. I have a degree in architecture.

Schmidt was involved in Google's activities that later became the subject of the High-Tech Employee Antitrust Litigation lawsuit, which resulted in the settlement of $415 million to employees. In one case, after Apple's Steve Jobs of Apple's feedback, Schmidt sent Google's HR department an email stating, "I think we have a policy against no recruiting from Apple; this is a direct inbound request." Can you get this stopped and let me know why this is happening? I'll need to get a response back to Apple as soon as possible, so please let me know as soon as you can. Eric: "Thanks Eric." A Google recruiter was "terminated within an hour" for not adhering to the anti-inhibited program, according to Schmidt's email. Google did not call a list of companies Google would not recruit from under Schmidt, and that would not include Google. According to a court filing, another email exchange shows Google's human resources manager questioning Schmidt about publishing its no-cold call contracts with rivals. Schmidt replied that he preferred it to be posted "verbally" because he doesn't want to create a paper trail over which we can be sued later."

Schmidt was elected to Apple Inc.'s board of directors on August 28, 2006, a post he held until August 2009.

Schmidt is the current Chair of the Broad Institute's Board of Directors.

Schmidt served on the board of trustees of Carnegie Mellon University and Princeton University. In the 2000s, he taught at Stanford Graduate School of Business. Schmidt is a member of The Institute for Advanced Study in Princeton, the Khan Academy, and The Economist.

New America is a non-profit public-policy center and think tank, established in 1999. In 2008, Schmidt succeeded founding chairman James Fallows and served as chairman until 2016.

Innovation Endeavors, founded in 2010 by Schmidt and Dror Berman, is a pioneer in early-stage venture capital. Mashape, Uber, Quixey, Gogobot, BillGuard, and Formlabs were among the fund's investments, which were based in Palo Alto, California.

Schmidt began teaching future coders, cyber-security experts, and scientists in July 2020 as part of a US government initiative to prepare future coders, cyber-security specialists, and scientists.

Schmidt and Eric Schmidt launched Reimagine in August 2020.

Schmidt joined Chainlink Labs as a strategic advisor in December 2021.

Schmidt, a personal advisor and major donor to Barack Obama's 2008 presidential campaign, launched his campaign on behalf of the candidate the week of October 19, 2008. He was described as a possible nominee for the Chief Technology Officer position, which Obama created in his administration, and Obama preferred him for Commerce Secretary. Schmidt became a member of President Obama's transition advisory board and later a member of the United States President's Council of Advisors on Science and Technology after Obama won in 2008. (PCAST) Schmidt has been a member of Google's government affairs team.

Schmidt has suggested that the most effective way to solve all of the country's domestic challenges is to promote renewable energy and, eventually, replace fossil fuels with renewable energy.

On March 2, 2016, Defense Secretary Ash Carter announced Schmidt as chairman of the DoD Innovation Advisory Board. It will be modeled like the Defense Business Board and will assist the Pentagon in becoming more effective and flexible.

Schmidt is an investor in The Groundwork, a start-up firm that has been associated with Hillary Clinton's presidential campaign in 2016. For example, in the second quarter of 2015, it cost the campaign $177,000. By May 2016, the campaign had invested $500,000 on it.

Schmidt is an investor in Timshel, another start-up firm associated with Hillary Clinton's 2016 presidential campaign. Timshel is the parent company of The Groundwork.

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