I'm an Oakland-based technology reporter and Senior Writer at Forbes. Contact me at [email protected] or securely on Signal at 510-473-8820.
After the sudden departure of its CEO, Schmidt Futures is shutting down and spinning out a dozen programs, including its prestigious partnership with the White House.n September, ahead of a meeting of the UN Security Council, Eric Schmidt, the billionaire and former Google CEO, was scheduled to discuss his foundation’s involvement in a new partnership to funnel corporate aid to humanitarian disasters that Schmidt Futures had been working on for almost a year.
Got a tip? Contact reporters Sarah Emerson at [email protected] or 510-473-8820 on Signal, and David Jeans at [email protected] or 347-559-5443 on Signal. “We’ve known for a bit that programs were going to be sunsetted, but it was unclear which ones, and who has job security,” another current Schmidt Futures employee toldthat Schmidt is worth nearly $20 billion. Schmidt Futures is registered as a private company, and is funded through the Schmidts’ nonprofit arms, including the Eric and Wendy Schmidt Fund for Strategic Innovation, a private foundation that$358.5 million from the couple in 2021, according to that year’s tax filing.
Under Braverman’s leadership, the foundation’s goal was to seek and fund ambitious tech, science and social projects. Most recently, that included ex/ante,to invest in startups focused on privacy and security. It would also build a global braintrust through initiatives like Rise, the flagship program of the Schmidts’ $1 billion philanthropic commitment to supporting talent across the world. In doing so, it built close ties with the White House — ties which have drawn scrutiny.
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