Eric Schmidt Pays $110M for Aaron Spelling’s Former L.A. Mansion

I’ll be honest—when I first heard Eric Schmidt dropped $110 million on a single home, I had to double-check the headline. But then I saw the address: The Manor, one of L.A.’s most legendary estates. Suddenly, it made sense.

This isn’t just another billionaire buying another trophy property. This is the former Google CEO securing one of the most iconic private residences in Los Angeles—56,000 square feet of real estate history, once owned by Hollywood royalty Aaron and Candy Spelling.

If you follow luxury real estate even a little, you’ve probably seen this home before. It’s been through multiple price tags, listings, and jaw-dropping renovations. But what makes Schmidt’s move different—and more strategic—is the timing. He didn’t just buy a mansion. He bought at a discount, during a moment when L.A.’s ultra-luxury market is going through a subtle shift.

The purchase wasn’t quiet, either. Social feeds lit up. And here’s the key detail many headlines skipped: this isn’t Schmidt’s first L.A. property. In fact, with this buy, he now owns over $300 million in luxury real estate across the city—including estates once owned by Gregory Peck and Barron Hilton.

So what’s really behind this deal? Just ego? Legacy? Or something deeper?

Let’s break it down.

What do you think—smart investment, flex of wealth, or something more? Drop your thoughts in the comments below—I’d love to hear what you make of this.

The Manor Isn’t Just a House—It’s a Hollywood Landmark

If you’re imagining some typical Bel-Air mansion with a pool and marble floors, think bigger. Much bigger.

The Manor—also called the Spelling Manor—isn’t just real estate. It’s a piece of L.A. history. Built in the early 1990s by TV powerhouse Aaron Spelling and his wife Candy, this 56,000-square-foot mega-mansion has long been a symbol of excess, ambition, and Hollywood royalty.

We’re talking 14 bedrooms, 27 bathrooms, and five acres of manicured land in the heart of Holmby Hills. And I don’t mean just any backyard. Think citrus trees, rose gardens, fountains, a full-size tennis court, and parking for dozens of luxury cars.

Inside, it’s even more surreal—there’s a bowling alley, a beauty salon, a movie theater, a wine cellar, and even a massage room. According to The Wall Street Journal, the estate was recently upgraded again, with English heiress Petra Ecclestone pouring in another $20 million to modernize it.

And yet, even with all that, this property has always been more than its square footage. It’s a cultural landmark. A place where billionaires don’t just live—they leave their mark.

From Hollywood Royalty to Tech Billionaire—A Mansion’s Journey

Here’s where things get interesting—because The Manor’s story isn’t just about Schmidt. It’s about how this house has passed through the hands of some of the world’s most powerful people.

After Aaron and Candy Spelling built the estate, Petra Ecclestone—the daughter of Formula One boss Bernie Ecclestone—bought it for $85 million in 2011. At the time, it was one of the priciest U.S. home sales ever. She lived there for years, then offloaded it in 2019 for $120 million to a mysterious buyer whose identity was never made public.

And now, in 2025, the home has found its newest owner: Eric Schmidt.

According to Robb Report, the mansion was originally listed at a jaw-dropping $165 million in 2022, but it didn’t move. Price cuts followed—first to $137.5 million in 2024, and eventually to $110 million, which is when Schmidt made his move.

It’s a clear example of a pattern we’re seeing more in L.A.’s high-end market: even the ultra-wealthy are waiting for value. And Schmidt? He waited until the timing was just right.

It’s a trend we’ve seen lately—even voice acting legend John DiMaggio listed his L.A. home recently, showing that Hollywood’s real estate shuffle isn’t just for billionaires.

Schmidt’s Timing Wasn’t Luck—It Was Strategy

I’ll tell you right now—Eric Schmidt didn’t just stumble into a deal. He played it smart.

Realtor confirms that this home sat on the market for a while, despite its jaw-dropping amenities and renovations. Why? Because even in L.A., the ultra-luxury market isn’t what it used to be.

Between tax law changes, fire insurance chaos, and a flood of high-end inventory, big estates aren’t flying off the shelves like they were in 2021. Schmidt knew this. He watched. He waited. And when the asking price dropped by more than $50 million from its peak, he made his move.

It’s not just about the house—it’s about timing. And that’s something most headlines miss. Buying The Manor at $110M isn’t overpaying. It’s positioning.

You and I might never buy something this massive, but the takeaway is real: even at the highest levels of the market, strategy beats speed.

What’s your take—was this a genius real estate move or just billionaire timing? Share your thoughts below. I’d love to hear how you see it.

Why Schmidt’s L.A. Portfolio Keeps Getting Bigger?

Let’s zoom out for a second.

This isn’t Eric Schmidt’s only mansion in L.A.—not even close. With this latest buy, his local real estate portfolio is now reportedly worth over $300 million. That’s more than most luxury developers.

He owns Gregory Peck’s former home, a $65 million Holmby Hills estate once lived in by hotel mogul Barron Hilton, and a massive undeveloped plot in Beverly Hills that used to belong to Paul Allen.

So why keep buying?

From where I’m standing, it’s a mix of power, legacy, and long-term planning. You don’t just collect homes like this for status—you do it to cement your presence in a city that runs on real estate, image, and access.

You don’t need to be a billionaire to see what’s going on. The guy isn’t just buying homes—he’s buying cultural leverage.

Deals like this often stir buzz in niche WhatsApp communities where luxury real estate watchers quietly track who’s buying what—and why.

What Schmidt Plans to Do with the Manor Might Surprise You?

Here’s the part that caught me off guard.

Schmidt didn’t buy The Manor just to live like a king. According to reports, he and his wife Wendy plan to use the property as a hub for local nonprofit and cultural events. Not parties. Not private retreats. Something way more purposeful.

They’re calling it “594” (the property’s address), and it’s part of a bigger vision. The couple recently partnered with L.A.’s Museum of Contemporary Art to launch the Environment and Art Prize—a fund to support environmental creativity.

That tells me something important: this deal isn’t just about opulence. It’s about influence. Impact.

Think about it—how many billionaires do you know who’d turn a 27-bathroom mansion into a nonprofit event space?

Schmidt’s trying to rewrite the script. And whether it works or not, it says a lot about how the future of luxury might not be just about owning more—but using what you own differently.

We’ve seen similar price timing work for others too—Robbie Williams made headlines when he snapped up a $40M Miami mansion in a calculated deal last year.

Why This $110M Deal Was Actually a Steal?

Let’s be real: $110 million isn’t pocket change. But in L.A.’s ultra-luxury market, Schmidt didn’t overpay—he negotiated a smart buy.

Here’s why.

This estate was listed at $165 million back in 2022. That’s a $55 million drop. And even the 2019 buyer paid more than Schmidt did. Most people don’t realize this, but L.A.’s high-end real estate market has been quietly correcting. Between rising property taxes, stricter zoning laws, and massive fire insurance premiums, demand at the very top is thinning out.

While others were hesitant, Schmidt made his move when sellers were ready to deal.

He’s not alone either. Other billionaires have done similar things recently—like buying trophy properties after two or three rounds of price cuts. And when you compare this to the $210 million Malibu estate that sold last year? The Manor looks like a value play.

So yeah—he spent big. But he also bought smart.

What Happens Next? The Future of The Manor Under Schmidt

Here’s where it gets interesting. Because Schmidt didn’t just buy a mansion—he’s planning to redefine how it’s used.

Based on what I’ve read, they’re rebranding the estate as “594” and planning to open it up for nonprofit events, cultural salons, and private gatherings tied to the environmental arts community. That’s way different from the usual billionaire blueprint.

And I wouldn’t be surprised if it gets eco-renovated too. Knowing Schmidt’s track record with science, tech, and sustainability, this house might soon include solar installations, smart water systems, or even LEED certifications. No confirmation on that yet—but the signs are there.

You and I might not get an invite to a fundraiser at 594 anytime soon, but I’m watching this closely. Because if it works, it might spark a shift: from trophy estates as private kingdoms… to purpose-built hubs of influence.

And it wouldn’t be a shock if 594 followed the sustainability route—James Jannard’s Beverly Hills mansion recently returned to the market with similar high-tech eco-luxury appeal.

Why This Deal Signals a Shift in L.A.’s Luxury Real Estate?

Let’s step back.

For years, the L.A. luxury scene was all about visibility—status, drama, celebrity. But this deal? It marks something else: quiet power.

Eric Schmidt didn’t flash this buy. He didn’t flip it on social media. He made a calculated, behind-the-scenes purchase. And now he’s turning one of the city’s loudest properties into a space for impact, not ego.

That’s a shift.

It reflects something bigger that’s happening in high-end real estate—especially among tech billionaires. Homes aren’t just investments or flexes anymore. They’re tools. For hosting. For influence. For legacy.

If you’re paying attention to where luxury living is headed, this is a story worth tracking.

Curious about more iconic mansions and celebrity real estate deals? Visit our Real Estate & Homeownership section for stories you won’t find anywhere else.

Disclaimer: All information in this article is based on publicly available reports from sources. Property values, ownership details, and future plans are subject to change. This content is for informational purposes only and not financial advice.