Over the past couple of years, Eric Schmidt’s ever-growing real estate portfolio has been the talk of several towns — he’s spent hundreds of millions buying up prime properties in locales like Montecito, Beverly Hills and New York City. And though it never received any fanfare, records now reveal the former Google CEO added a trophy beach house to his property collection last summer, when he doled out $22.6 million for oceanfront digs in the exclusive Malibu Colony guard-gated community.
Including his new beach house, Schmidt owns well over $180 million worth of luxury real estate in the Los Angeles area alone. The 67-year-old lays claim to a $65 million parcel of undeveloped land in the mountains high above Beverly Hills last owned by deceased tech billionaire Paul Allen. He also possesses a $61.5 million Holmby Hills estate that served as the longtime home of the late hotelier Barron Hilton, not to mention the traditional 1970s house next door.
As for Schmidt’s Malibu Colony acquisition, the place was resided in for decades by the late real estate developer Ralph Kiewit Jr. Originally listed for $29 million in December 2020, the price was dropped to $25 million in June 2021 before ultimately going to Schmidt at a big discount.
Sited on a compact yet nicely landscaped 0.3-acre lot offering 55 feet of beach frontage, the two-story brick and wood-clad structure is separated from the street out front by a three-car garage and gated entry. Built in 1969 and updated through the years, the midcentury coastal has three bedrooms and five baths in almost 3,500 square feet of living space — all of it offering picturesque ocean and coastline views via floor-to-ceiling walls of glass.
Among the highlights: a fireside family room, which boasts a wood-beam ceiling, built-in seating and an integrated wall unit, and opens completely to a spacious beach-side terrace ideal for entertaining and lounging. Back inside, a formal dining room can accommodate up to eight guests, while the all-white eat-in kitchen features newer appliances and flows out to a large al fresco dining terrace.
A spiral staircase heads upstairs, where an oversized master retreat comes complete with an ocean-view balcony, dressing area and cedar-lined closet, plus a spa-like bath sporting a soaking tub and standalone shower. Elsewhere are two additional bedrooms, along with an office space; and topping it all off are a “classic tea house” that juts out to a naturally formed sandbar, per the listing, and guesthouse with a full kitchen and bath resting atop the garage.