Former Google CEO Launched A $100 Million Company With His Girlfriend. It’s Not Going Well

Eric Schmidt is the executive chairman of Steel Perlot, one of a sprawling network of funds, foundations and LLCs with which he is associated.Married billionaire Eric Schmidt launched Steel Perlot with 29-year-old entrepreneur Michelle Ritter while they were dating — a venture that has blurred his professional and personal life.

In a January 2023 email to Hillspire, a Steel Perlot executive requested nearly $2.5 million to meet payroll and credit card debts racked up by the company and its subsidiaries that month. “Eric, copied, has the context,” wrote Gal Treger, Steel Perlot’s head of VC funds, according to a copy of the email seen by. Hillspire covered the payroll costs, said people familiar with the matter.

According to multiple employees who worked with her, Ritter also implied that tech elite including Jeff Bezos and Michael Bloomberg, with whom she and Schmidt attended social events, were “committed” or “involved” in Steel Perlot projects. Other times, employees said Ritter implied that Steel Perlot had financial or business commitments from Middle Eastern investors, such as the Emirati sovereign wealth fund Mubadala.

Schmidt declined to respond to questions about Steel Perlot, his relationship to Ritter and his investments. When asked, spokesperson Matthew Hiltzik toldthat any relationship between Schmidt and Ritter isn’t related to the success of the business and the billionaire intends to continue supporting Steel Perlot financially.

Ritter, who graduated from Columbia Law School in 2021 after completing stints as a cybersecurity research assistant at the Department of Homeland Security and a summer intern at the law firm Skadden, toldshe was introduced to Schmidt via a law school connection. The same year she graduated, it was reported by thethey were romantically entangled when they attended the launch of Richard Branson’s Virgin Galactic rocket plane in New Mexico.

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