In a notable turn of events, former Google CEO Eric Schmidt has made headlines with his recent acquisition of the iconic Spelling Manor in Los Angeles. This lavish property, originally commissioned by television mogul Aaron Spelling, showcases an intriguing history intertwined with modern real estate dynamics. Schmidt’s purchase marks another addition to his extensive real estate portfolio, which includes properties across major cities.
The Journey of Google’s Founders
In 2001, venture capitalists behind the emerging search engine Google tasked its co-founders, Larry Page and Sergey Brin, with a pivotal responsibility: hiring a CEO. Initially resistant, the duo went through numerous high-profile interviews without success. However, everything changed when Eric Schmidt stepped in.
With an impressive corporate background that included roles as CTO at Sun Microsystems and CEO of Novell, Schmidt appeared an unlikely fit for the young, innovative company. Beyond his extensive experience, he shared a common bond with Page and Brin, possessing a PhD in computer science and a teaching role at Stanford University. This shared vision made Schmidt a standout candidate. On August 6, 2001, he officially took the reins as Google’s CEO.
Under Schmidt’s leadership, Google experienced unprecedented growth, successfully navigating its IPO and establishing itself as a global powerhouse. He held the CEO position until 2011, later serving as chairman until 2017 and remaining a board member until 2019.
His time at Google proved financially rewarding, with Schmidt retaining a significant stake in Alphabet, the parent company of Google, currently valued at around $23 billion. His total net worth, including private investments, reaches an impressive $36 billion.
The Spelling Manor: A Historical Overview
Commonly known as The Spelling Manor, this opulent estate was commissioned in the late 1980s by Aaron Spelling, a renowned television producer known for hits like “Dynasty” and “Beverly Hills, 90210.” Spelling envisioned a residence fitting for Hollywood royalty, ultimately replacing Bing Crosby’s former mansion on the site with a palace-like structure.
Completed in 1991, The Manor spans 56,500 square feet, surpassing the size of the White House. Nestled on nearly five acres in Holmby Hills, one of Los Angeles’s most prestigious neighborhoods, the mansion embodies a French château architectural style. Inside, it features 14 bedrooms, 27 bathrooms, multiple recreational spaces, and even unique amenities such as a bowling alley and a silver storage room.
The Spellings occupied the house for nearly two decades until Candy Spelling made the decision to sell following her husband’s passing in 2006.
The Sales and Renovations
In 2011, after years of fluctuating market presence, Candy Spelling sold The Manor to Petra Ecclestone, daughter of billionaire Bernie Ecclestone, for $85 million. This transaction was one of the largest residential real estate deals in U.S. history.
Ecclestone invested significantly in renovating the estate, employing over 500 workers to modernize it with a European-inspired design, replacing its original decor with luxurious finishes. Despite her investments, she rarely lived in the home and began marketing it off-market in the mid-2010s.
In 2019, Petra sold The Manor for a staggering $120 million to an undisclosed buyer, recorded as the highest home sale in Los Angeles County at the time. The buyer was later identified as linked to a shell company, maintaining a shroud of secrecy around the transaction.
Fast forward to 2025, after a series of legal complications that clouded the property’s title, it re-entered the market with a listing price of $137.5 million. Recently, Eric and Wendy Schmidt successfully negotiated the purchase of The Manor for $110 million, further enhancing Schmidt’s reputation as a notable real estate collector.
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