Eric Schmidt on its list of the 50 most important people on the Web, along with Google co-founders Page and Brin. Schmidt is one of a few people who became billionaires (in United States dollars) based on stock options received as employees in corporations of which they were neither the founders nor relatives of the founders. In its 2011 'World's Billionaires' list, "Forbes" ranked Schmidt as the 136th-richest person in the world, with an estimated wealth of $7 billion. On 20 January 2011, Google announced that Schmidt would step down as the CEO of Google but continue as the executive chairman of
Eric Schmidt fossil fuels with renewable energy. Ash Carter appointed Schmidt as chairman of the DoD Innovation Advisory Board announced March 2, 2016. It will be modeled like the Defense Business Board and will facilitate the Pentagon at becoming more innovative and adaptive. Schmidt is an investor in The Groundwork, a start-up company associated with Hillary Clinton's 2016 presidential campaign. For example, it charged the campaign $177,000 in the second quarter of 2015. By May 2016, the campaign had spent $500,000 on it. Schmidt is an investor in Timshel, another start up company associated with Hillary Clinton's 2016 presidential campaign. Timshel is