Former Google CEO Launched A $100 Million Company With His Girlfriend And It’s Not Going Well

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Since leaving Google as chairman, Eric Schmidt has wielded a $20 billion fortune to build an ecosystem of influence, overseeing a vast constellation of companies and investments and taking on prestigious advisory roles that have cemented his reputation as Silicon Valley statesman and AI policy whisperer to the Pentagon. And for the past two years, the 68-year-old has extended that clout — and committed at least $100 million, according to three sources — to a startup accelerator called Steel Perlot, which he leads as executive chairman with CEO Michelle Ritter, a 29-year-old entrepreneur who he has been dating. Schmidt’s funds were intended to support the accelerator’s business, launching and investing in new ventures under the Steel Perlot umbrella. But just over a year after it launched, the company was asking Schmidt’s family office, Hillspire LLC, to pay its bills. Read the full story on Forbes: https://www.forbes.com/sites/davidjeans/2023/10/23/eric-schmidt-michelle-ritter-steel-perlot/?sh=258982d370a5 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more: https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.