Google Exec Eric Schmidt Pays More To Dock His Boat Than You’ll Make In Your Life

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Nice Move

Google Exec Eric Schmidt Pays More To Park His Boat Than You Do For A House

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]

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