Former Google CEO Eric Schmidt Buys LA Mansion Bigger Than the White House for $110M
Eric Schmidt, the former Google CEO, has hit the headlines by purchasing a mansion bigger than the White House and one of the seven wonders of the world, the Taj Mahal, in California, USA, for the price of $110 million. The sprawling property, located in the Holmby Hills neighborhood, covers 56,500 square feet and sits on nearly five acres of land. The property was originally built by television producer Aaron Spelling in 1990.
The mansion has had several owners one after another after that, with Schmidt as the most recent one. The recent sale has been one of the most expensive real estate deals in the US this year. Drew Fenton, CEO of Beverly Hills-based Carolwood Estates, represented the seller and broke the news on social media. Fenton also stated that this is the priciest market deal, along with one more Bel-Air property, this year.
Eric Schmidt, who was Google’s CEO from 2001 to 2011 and executive chairman from 2011 to 2015, has an estimated net worth of $25.5 billion. He and his wife plan to rename the estate “594,” which refers to its address, Drew Fenton, CEO of Beverly Hills-based Carolwood Estates. The property was earlier known as Drew Fenton, CEO of Beverly Hills-based Carolwood Estates.
While the price of the mansion sounds to be too high, the Schmidts have got it on a discounted rate, as it was once listed for $137.5 million after a long time on the market. In 2019 British heiress Petra Ecclestone, daughter of Formula One’s Bernie Ecclestone, had purchased it for $120 million.
The property has 14 bedrooms and 27 bathrooms, along with luxurious amenities like a two-lane bowling alley, a large wine cellar, a beauty salon with massage and tanning rooms, and a 20-seat screening room with massage and tanning rooms. It also has a 20-seat screening room with a 60-foot screen that retracts into the floor. It also includes a tennis court and a swimming pool built with 170,000 individual glass tiles.
Schmidt and his wife plan to use the mansion for non-profit events and social gatherings linked to Los Angeles’ cultural and charitable institutions. The couple also plans to renovate the property to make it more energy efficient.
The home was constructed at the peak of Aaron Spelling’s career when he produced hit TV shows like Charlie’s Angels, Beverly Hills 90210, and Charmed. Now, in the hands of a tech billionaire, it differs and moves into another era: a mash-up of its glamorous past and vision for something very modern.
