Eric Schmidt
Eric Schmidt is Chairman and CEO of Google. He also sits on Apple's Board of Directors and Princeton University's Board of Trustees. His net worth was estimated at over $6.6 billion in 2008. 1 Schmidt lives in Atherton, California with his wife Wendy Schmidt.
Fast Facts
- Born: April 27, 1955
- Birthplace: Washington, DC
- Bachelor's degree in electrical engineering from Princeton
- Master's and PhD degrees from Cal Berkeley
- Previously CTO of Sun Microsystems and CEO of Novell
- Joint author of the lexical analyzer lex
- Former employee of Xerox's Palo Alto Research Center
- Named #1 on PC World's list of 50 Most Important People on the Web in 2007
- Ranked #129 on Forbes list of World's Richest People in 2006
70/20/10 Model
Eric Schmidt pioneered the 70/20/10 Model while at Google. The model is geared to cultivate innovation. It's made up for the follow directives:
- 70% of time should be dedicated to core business tasks
- 20% of time should be dedicated to projects related to the core business
- 10% of time should be dedicated to projects unrelated to the core business
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