Tuesday, February 15, 2011
LIFE AFTER GOOGLE: Eric Schmidt's $60 Million Ocean Adventure
For CEO Eric Schmidt, life after Google apparently includes a great deal of Jacque Costeau-ing.
Over the past few years, Schmidt and his wife Wendy have accumulated some $60-odd million in assets for "ocean studies," according to IRS filings for the Schmidt Research Vessel Institute and Marine Science and Technology Foundation.
These assets include two ships. (See them here.)
One of these ships, the 255-ft Lone Ranger yacht, was once valued at $48 million, although its donated value was pegged at a measly $32.2 million.
Curiously, it was donated to SRVI by Progressive Insurance's retired pot-smoking CEO Peter B. Lewis. The Lone Ranger has been refitted and is sailing the seas on a mission to analyze the impact of marine debris (video).
The other ship, the 83 meter Falkor, had a reported fair market value of $2.78MM and is undergoing extensive refit.
According to its Facebook page, the mission of the Schmidt Ocean Institute is to "advance ocean exploration, discovery, and knowledge, and be a catalyst for sharing the information about the oceans."
"It is our position that the free sharing of information about the oceans is the key benefit in itself. We will evaluate the broad impact directly by how widely and frequently the shared information is requested and referred to."
Schmidt reportedly also has a $72.3 million, 195-ft pleasure yacht that puts Google co-founder Larry Page's $45 million, 193-foot 'dinghy' to shame.
Click here for photos of the Lone Ranger and Falkor >>
Read more: http://www.businessinsider.com/life-after-google-eric-schmidts-60-million-ocean-adventure-2011-2#ixzz1E4q9hDU6
Posted by Voyage Adviser at 4:29:00 PM