Eric Schmidt: is there a family office?

Eric is the former Google CEO who served from 2001 to 2011 having built years of experience in the tech industry thanks to roles in Novell, Xerox, and Sun Microsystems. Since leaving his post at Google, Schmidt has held positions in the Department of Defence and remained an advisor at Alphabet until 2018. As of November 2022, Schmidt has an estimated net worth of $27.bn, putting him in the top 100 world’s richest people according to Forbes. In this article, we will investigate if Schmidt manages his wealth through a single-family office.

Schmidt manages wealth through Hillspire family office and philanthropic pursuits

 Eric founded the family office Hillspire LLC alongside his wife Wendy in 2006, with the headquarters located in California. The family office operates as an investment vehicle for the pair as well as their philanthropic pursuits through the Schmidt Family Foundation, Schmidt Ocean Institute, and Schmidt Futures. Hillspire invests in publicly traded securities, private equities, real estate, and alternative assets. In 2019, the family office invested in a fellow former Google employee’s finance venture, Arta finance. The venture led by Caesar Sengupta aims to digitalize the family office experience using artificial intelligence to provide personalized portfolios. In 2015, Hillspire acquired a 20% equity interest in the global investment and technology firm, the D.E. Shaw group. Eric founded Schmidt Futures to support and connect future generations of aspiring entrepreneurs through grants, investments, and start-up activity. Wendy and Eric also established the Schmidt Family Foundation to advance research in renewable energy and provide focus on more efficient use of natural resources.

Picture source: Alex Dudar