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

To be honest, I had to read the headline twice when I first heard that Eric Schmidt had spent $110 million on a single house. Then I noticed the address: The Manor, one of the most renowned estates in Los Angeles. All of a sudden it made obvious.

This isn’t simply another trophy house purchase by a billionaire. Previously held by Hollywood aristocracy Aaron and Candy Spelling, this 56,000-square-foot private home in Los Angeles is now owned by the former CEO of Google.

You’ve most likely seen this house before if you’re even remotely interested in premium real estate. It has undergone numerous price tags, listings, and stunning renovations. However, the timing of Schmidt’s move is what distinguishes it and makes it more calculated. He did not simply purchase a mansion. He purchased at a discount at a time when the ultra-luxury market in Los Angeles is subtly changing.

It wasn’t a quiet purchase either. Social media streams blazed. The important fact that many headlines omitted is that this is not Schmidt’s first property in Los Angeles. He currently owns more than $300 million worth of upscale real estate throughout the city, including properties that were previously held by Barron Hilton and Gregory Peck.

What is the true purpose of this deal, then? Ego only? Legacy? Or anything more profound?

Let’s dissect it.

Do you believe this is a good investment, a show of wealth, or something else entirely? Please share your ideas in the comments section below; I’d be interested in knowing what you think.

The Manor Isn t Just a House It s a Hollywood Landmark

Think larger if you’re picturing a standard Bel-Air estate with marble floors and a pool. Much larger.

The Spelling Manor, another name for the Manor, is more than just a piece of real estate. It’s a fragment of Los Angeles’ past. This 56,000-square-foot mega-mansion, which was constructed in the early 1990s by TV mogul Aaron Spelling and his wife Candy, has long been associated with luxury, ambition, and Hollywood aristocracy.

In the center of Holmby Hills, we’re talking about five acres of well-kept acreage with fourteen bedrooms and twenty-seven bathrooms. I’m not referring to any backyard, either. Imagine a full-size tennis court, parking for dozens of luxury cars, rose gardens, citrus trees, and fountains.

It’s even more bizarre inside, with a movie theater, a wine cellar, a beauty parlor, a bowling alley, and even a massage parlor. The Wall Street Journal reports that English heiress Petra Ecclestone has invested an additional $20 million to update the estate.

This home has always been more than its square footage, despite everything. It is a landmark in culture. It’s a location where billionaires make their imprint, not just live.

From Hollywood Royalty to Tech Billionaire A Mansion s Journey

Because The Manor’s plot isn’t solely about Schmidt, this is when things start to become interesting. It’s about how some of the most influential people in the world have owned this mansion.

The estate was constructed by Aaron and Candy Spelling, and in 2011, Petra Ecclestone, the daughter of Formula One CEO Bernie Ecclestone, purchased it for $85 million. It was one of the most expensive home sales in the United States at the time. The property was sold in 2019 for $120 million to an unidentified bidder after she had resided there for years.

And today, in 2025, Eric Schmidt is the house’s newest owner.

The property didn’t sell despite being marketed for an astounding $165 million in 2022, according to Robb Report. Price reductions came next, first to $137.5 million in 2024 and then to $110 million, at which point Schmidt took action.

Even the ultra-wealthy are waiting for value, which is a glaring example of a trend we’re seeing more and more in L.A.’s upscale market. What about Schmidt? He bided his time till the moment was perfect.

Hollywood’s real estate shift isn’t just for billionaires, as seen by the recent listing of voice actor John DiMaggio’s home in Los Angeles.

Schmidt s Timing Wasn t Luck It Was Strategy

To be clear, Eric Schmidt did not merely happen to strike a deal. He was clever.

Despite its incredible features and upgrades, the realtor says that this house remained on the market for a long time. Why? Because the ultra-luxury market isn’t as strong as it once was, even in Los Angeles.

Big estates aren’t selling as quickly as they did in 2021 due to a combination of changes in tax laws, a flurry of high-end inventory, and issues with fire insurance. Schmidt was aware of this. He observed. He waited. And he took action when the asking price fell by over $50 million from its peak.

Timing is more important than the house alone. And most headlines fail to mention that. It’s not excessive to pay $110 million for The Manor. It’s the placement.

Even at the highest echelons of the market, strategy is more important than speed, even though you and I may never purchase something this large.

In your opinion, was this a brilliant real estate move or simply the timing of a billionaire? Post your comments below. I’d be interested in knowing your thoughts.

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

For a moment, let’s zoom out.

This isn’t even close to being Eric Schmidt’s only mansion in Los Angeles. His local real estate holdings are now apparently valued at over $300 million after this most recent purchase. Compared to most luxury developers, that is more.

He has a huge undeveloped property in Beverly Hills that was originally owned by Paul Allen, Gregory Peck’s former residence, and a $65 million villa in Holmby Hills that was once occupied by hotel tycoon Barron Hilton.

So why do you keep purchasing?

It’s a combination of legacy, authority, and long-term planning, in my opinion. 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 tooRobbie Williams made headlines when he snapped up a $40M Miami mansionin 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 routeJames Jannard s Beverly Hills mansionrecently 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 ourReal Estate & Homeownership sectionfor 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.

Table of Contents

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

  • The Manor Isn t Just a House It s a Hollywood Landmark

  • From Hollywood Royalty to Tech Billionaire A Mansion s Journey

  • Schmidt s Timing Wasn t Luck It Was Strategy

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

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

  • Why This $110M Deal Was Actually a Steal?

  • What Happens Next? The Future of The Manor Under Schmidt

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

• The Manor Isn t Just a House It s a Hollywood Landmark

• From Hollywood Royalty to Tech Billionaire A Mansion s Journey

• Schmidt s Timing Wasn t Luck It Was Strategy

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

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

• Why This $110M Deal Was Actually a Steal?

• What Happens Next? The Future of The Manor Under Schmidt

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