Forbes Names Schmidt as Atherton's Richest Billionaire

Forbes released its 2015 List of Billionaires this week. Coming in at No. 137 is Google Executive Chairman Eric Schmidt of Atherton. Forbes pegs Schmidt’s net worth on Mar. 4, 2015 at $9.4 billion.

Schmidt worked at several major companies before joining Google as CEO from 2001 to 2011. He owns 4.5 million shares of the company, in addition to diversified holdings. According to Forbes, “His Schmidt Ocean Institute is working to preserve reef habitats and study pollution. He is also a founding partner of Innovation Endeavors, a venture capital fund that invests in emerging technologies that target global markets.”

As Executive Chairman of Google, Schmidt travels the world to promote an open internet.

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The magazine says there are now 1,826 billionaires worldwide with a combined net worth of $7.05 trillion, up from $6.4 trillion a year ago.

There aren’t any surprises at the top of the Americans on the billionaire heap: Microsoft co-founder Bill Gates, Berkshire Hathaway’s Warren Buffett and Oracle’s Larry Ellison are the leaders.

Forbes, which has been compiling the list since 1986, says the rankings show entrepreneurship is alive and well: 1,191 members of the list are self-made billionaires, while only 230 inherited their fortunes.

--Deb Belt (Patch Staff) contributed to this story; Photo credit: Forbes