Google Exec Eric Schmidt Pays More To Dock His Boat Than You’ll Make In Your Life
Think about what you would do if you got your hands on $4.75M. If you’re the executive chairman of Google’s Alphabet, Eric Schmidt, you already know what it’s like to have that much in expendable cashflow. Schmidt happens to be worth a little north of $10.6B. When your net worth is in the Bs, then you use $4.75M to secure a primo parking spot for your boat in Nantucket for the next 99 years.
From the Boston Globe:
Nantucket County property records show a 99-year-lease was signed on the dock last month by a holding company that lists the Schmidts’ family investment office in Palo Alto, Calif., as its manager. The office did not return messages seeking comment Monday.
Another officer in the holding company is Melissa Philbrick, executive director of ReMain Nantucket, a nonprofit that Wendy Schmidt launched to help preserve the character of the island’s quaint downtown. Philbrick said the dock was bought for private use, not for ReMain, and she otherwise declined comment on the Schmidts’ plans for the spot.
This really is a no-brainer when you think about it. The dock is in high demand, and you need a place to park your yacht for the next century. The price of the dock is a drop in the bucket for Schmidt. Hell, he might make that much back in a week with one good earning’s report for Google. Now he has a little less money (the equivalent of you and I spending $45 if we were worth $100K), but owns the best goddamn spot for his boat in Nantucket.
Now that’s “fuck you” money..
[via Boston Globe]
Image via YouTube
That’s a lot of shopping carts
10 years ago at 11:32 amAnd piss jugs
10 years ago at 10:41 pmSchmidt- “hmm I could either give this 4.75 million to a charity for the homeless……..or…….. I could buy this boat dock for a hundred years! Yup definitely the boat dock.”
10 years ago at 11:48 amHow about you go feel the Bern elsewhere, buddy.
10 years ago at 12:09 pmThe man created something that everyone in the world uses if he wants to spend a billion dollars to dock his boat he should
10 years ago at 12:16 pmOf course, but you can still call him on it if he’s making a stupid decision.
10 years ago at 12:24 pmSort of like your mom did there, sport….not swallowing your worthless seed.
10 years ago at 4:47 pmI in no fucking way support that fuck dick. I might have posted a shitty comment but I’ll be damned if y’all think I support that socialist bull shit. I can’t fucking stand him or that carpet munching whore Hilary. As for Schmidt he’s probably a genuine guy, I just couldn’t get my head wrapped around paying that much for a boat dock.. Excuse me while I go run my laps.
10 years ago at 6:00 pmHe has probably donated more to charity this year than you will in your entire life. Hes not gonna donate every fucking cent he has.
10 years ago at 2:05 pmTo further put this into perspective, the median net worth for Americans is $44,900, not $100,000. This is nothing to him.
10 years ago at 12:01 pmHe was just comparing the ratio of $4.5M to $10B in a perspective that is easier for everyone to relate to/grasp. Had nothing to do with America’s median income.
10 years ago at 12:39 pmI realize that, I’m just saying that ratio wise, it would be the equivalent of an American with a median income spending $20.25 I thought that was obvious, I was just trying to make it more relatable to the average person.
10 years ago at 2:34 pmDamn, wrong account.
10 years ago at 2:35 pmOmg you fucking loser
10 years ago at 1:10 amLiked the gambler reference there at the end
10 years ago at 12:04 pm“Fuck You Money” has been a financial term long before The Gambler was ever produced.
10 years ago at 12:26 pmNo one realizes this is an investment? It’s actually a smart play you fucking art majors.
10 years ago at 12:20 pmworthless geeds.
10 years ago at 12:59 pmHow is it an “Investment”? Is there a secondary market for the slips?
10 years ago at 3:29 pmThat’s like asking if there is a secondary market for homes.
10 years ago at 3:54 pmI guess, if the terms of the 99-year lease permits you to resell on the open market.
10 years ago at 7:10 pmIt’s true, he deserves it and can do whatever he wants. But I’m not sure I agree this is a great use of funds. $4.75mm is still a lot of money to anyone, and you don’t get rich but throwing it away. Not saying give it to charity, but still.
10 years ago at 12:22 pmPlus, you gotta figure he could sign a, say, 10-year lease, invest the rest, and use the proceeds to re-up the lease every ten years. Or twenty. Or five. Notwithstanding that it’s fuck you money, it’s a stupid use of it.
10 years ago at 12:24 pmIn order to make 4.75M in one’s life, assuming a 40 year career, one would only have to make just shy of $119,000 a year. In other words, middle class money. If a person made a respectable salary, say $200,000, they would only have to work for about 23 years to make 4.75M in their working life.
10 years ago at 12:57 pmThe median for household income in the US is $52k. Read a fucking book.
10 years ago at 1:04 pmPeople who make the median income are failures, then. The only acceptable attitude is one that focuses on excelling and outdoing expectations or the average. Don’t accept being poor. It’s a bad move.
10 years ago at 2:47 pmCalm down, you don’t want to hurt yourself trying too hard.
10 years ago at 10:57 pm