Feeds

Schmidt's $1.45bn Google stock sale compelled by adultery?

May top Murdoch for world's most expensive divorce

The Power of One Infographic

Eric Schmidt's recent sale of over $1.45bn (£914m) in Google stock raised eyebrows on Wall Street, but a report now suggests he needs the liquidity to pay off his wife for a divorce.

"There are many reasons why he's selling shares, mostly business reasons, but he's also working towards a transition and an amicable separation and settlement with his wife," a source told the New York Post. "They are both very private, so they're quietly dividing up assets without drawing attention. There's been no paperwork filed."

The paper reports that Schmidt has been openly dating top Council on Foreign Relations exec Lisa Shields for 18 months. He's also been linked to several other women during the course of his career at Google, usually high-powered executives with business in the technology or political spheres. His wife has largely spent her time on charity work, but it has been speculated that the couple enjoy an agreed-upon monogamish marriage.

If not, then hell may well have no fury like a woman scorned, and the divorce could come with a very big bill, particularly if it takes place in California. Schmidt is worth a guesstimated $7bn and he and his wife have been together many years, so she'd be within her rights to claim to have contributed to the most lucrative parts of his career, and to take half that fortune under the Golden State's community property law.

The most expensive divorce on record is Rupert Murdoch's $1.7bn break-up with his long-standing wife Anna, but Schmidt may well give this a run for its money. He's almost certain to join Murdoch and Formula One supremo Bernie Ecclestone in the billion-dollar payout lists, and this will certainly be the technology industry's most expensive divorce – to date. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.