Eric Schmidt isn’t shy about his wealth and power: The former Google CEO recently won an auction for a superyacht seized from a Russian oligarch, he owns a big stake in a secretive and successful hedge fund and he spent $15 million for the Manhattan penthouse featured in Oliver Stone’s sequel to Wall Street.
He has also leveraged his $27 billion fortune to build a powerful influence machine in Washington that’s allowed him to shape public policy to reflect his worldview and benefit the industries in which he’s deeply invested — most recently, artificial intelligence. When senators meet next week to hear from tech executives and experts about how AI should be regulated, Schmidt will be at the table.
In his previous comments to Congress on AI, Schmidt has delivered a relatively simple message: The US needs to keep both public and private money flowing to innovative companies to counter China’s technological advancements. Behind his testimony, he has complex layers of connections to drive that message home.
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