Wealthy tech magnate, former Google CEO Eric Schmidt, shells out a hefty $110 million for Aaron Spelling's previous Los Angeles mansion.
Former Google CEO Eric Schmidt Expands Luxury Real Estate Portfolio
Eric Schmidt, the renowned tech entrepreneur and former CEO of Google, has added another trophy property to his extensive real estate collection. The latest acquisition is a $110 million mansion in the affluent Holmby Hills neighborhood of Los Angeles, previously owned by TV legend Aaron Spelling.
Known as "The Manor," the 56,000-square-foot estate was custom built and resided in by the Spellings for years. The mansion, recently updated to the tune of around $20 million, sprawls across nearly five manicured acres with numerous outdoor amenities, including a swimming pool tiled with 170,000 glass tiles, a tennis court, and a bowling alley. Inside, the mansion boasts 14 bedrooms, 27 bathrooms, a two-lane bowling alley, a wine cellar, a beauty salon with massage and tanning rooms, a 20-seat screening room with a 60-ft screen, and an aquarium.
Schmidt secured the property at a significant discount, buying it after negotiations and price reductions. The original listing price for The Manor was $165 million in February 2022, but it eventually went to Schmidt at a big discount, with the price dropping to $137.5 million in April 2022.
Schmidt is no stranger to luxurious real estate in the Los Angeles area. He also owns several other residences in Holmby Hills, including Gregory Peck's onetime abode and a $65 million estate that served as the longtime home of the late hotelier Barron Hilton. Schmidt also possesses a $65 million parcel of undeveloped land in the mountains high above Beverly Hills that was last owned by deceased tech billionaire Paul Allen. With these acquisitions, Schmidt now owns well over $300 million worth of luxury real estate in the L.A. area alone.
Wendy Schmidt, Eric's wife, is also involved in the real estate world. She is a real estate writer at the website and previously worked as a freelancer for Modern Luxury and several other media outlets. Together, the Schmidts have shown a commitment to supporting local nonprofit and cultural institutions, purchasing the Vail property primarily to host meetings and events for these organisations.
In addition to their new Los Angeles property, the Schmidts also own The Indigo at Vie L'Ven, a property located in Indigo Bay, Sint Maarten. This oceanfront development features turnkey residences and is priced at $2,724,800 USD. The Vail, CO property, referred to as A Car Collector's Dream Home, is priced at $27,000,000 USD and is marketed as "undoubtedly one of the finest estates in the world."
With these latest acquisitions, the Schmidts continue to expand their luxury real estate portfolio and make a significant impact on the Los Angeles and international real estate markets.
Eric Schmidt's investments extend beyond technology, as he also ventures into the realm of luxury real estate, making significant purchases in the business sector. Wendy Schmidt, his wife, contributes to the couple's interest in real estate, having worked as a real estate writer and freelancer. The Schmidts' portfolio includes properties in home-and-garden, such as their oceanfront development in Indigo Bay, Sint Maarten. Meanwhile, in finance, the Schmidts have also invested in the Vail property, which serves as a venue for various business meetings and events.
