Over the past several years, Eric Schmidt’s ever-growing real estate portfolio has been the talk of several towns—he’s spent hundreds of millions buying up prime properties in locales like Montecito, Miami Beach, San Francisco, and London. As first reported by The Wall Street Journal, the former Google CEO has now added a trophy house in the affluent Holmby Hills neighborhood of Los Angeles to his vast collection, doling out $110 million for the Manor, a Holmby Hills megamansion built by the late primetime TV titan Aaron Spelling and his socialite wife, Candy.
Including his new house, Schmidt owns well over $300 million worth of luxury real estate in the L.A. area alone. Not only does the current CEO of aerospace innovator Relativity Space lay claim to 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, but he 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.
As for his latest acquisition, it was originally listed for $165 million in February 2022, with the price dropping to $137.5 million in April 2024 before ultimately going to Schmidt at a big discount. The listing was held by Drew Fenton of Carolwood Estates, with Linda May of Carolwood repping Schmidt.
The Holmby Hills mansion was custom built by Aaron and Candy Spelling in the 1990s and has also been owned by Formula One heiress Petra Ecclestone.
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The 56,000-square-foot mansion was custom built and resided in for years by the Spellings. Completed in the early 1990s and recently updated to the tune of around $20 million by a previous owner, English Formula One racing heiress Petra Ecclestone, the chateau-style dwelling sprawls across nearly five manicured acres with numerous outdoor amenities. There’s a massive backyard lawn, a pool and spa, fountains, a tennis court, citrus trees, and rose gardens, as well as two separate motor courts and covered parking with room for dozens of vehicles.
The perks continue inside the opulent limestone-clad structure, complete with a bowling alley, a movie theater, a nightclub, a wine cellar, an aquarium, and a beauty salon with massage and tanning rooms, plus 14 bedrooms and a jaw-dropping 27 bathrooms. Not bad for a place that’s touted in marketing materials as “undoubtedly one of the finest estates in the world.”
Per WSJ, Schmidt and his wife, Wendy—both avid philanthropists who recently partnered with the L.A. Museum of Contemporary Art to create the Environment and Art Prize fund in their name—bought the home primarily to host meetings and events for local nonprofit and cultural institutions.
Source: Luxury - robbreport.com
