Wendy and Eric Schmidt — the philanthropists behind Schmidt Ocean Institute and Schmidt Sciences — have transformed Aaron Spelling’s former Holmby Hills estate into a high-profile events venue, according to reporting and public records.
An aerial view of "The Manor," the 123-room home built by Aaron Spelling. Getty Images
The couple paid roughly $110 million for the 56,000-square-foot landmark, a palatial property often called "The Manor." The home features 14 bedrooms, 27 bathrooms and about 123 rooms across roughly five acres. Sources say the Schmidts do not intend to use the mansion as a primary residence; instead it will host philanthropic fundraisers and nonprofit events tied to the family’s environmental and scientific work.
Eric and Wendy Schmidt. Getty Images
Renovations and Rebranding
Wendy Schmidt and Geoff Crane at a garden event. BFA.com / BACKGRID
Permits filed with the city show ongoing renovations, including a solar-compatible roof, HVAC upgrades and interior improvements. The property has reportedly been rebranded internally as "594," per Wall Street Journal coverage. The work appears aimed at making the estate suitable for large, high-end gatherings while incorporating sustainability upgrades.
Merryl Brown and Wendy Schmidt attend a garden showcase. BFA.com / BACKGRID
Political Activity: Prop. 45
Martha Stewart and Wendy Schmidt attend an event celebrating Lotusland on Monday, July 20, 2026, in Montecito, California. The event showcased the botanical beauty of the renowned gardens. (Copyright ) 2026 BACKGRID, Inc.) BFA.com / BACKGRID
Wendy Schmidt is a leading funder of opposition to California’s Proposition 45, a ballot measure intended to change aspects of the state's environmental-review process. Supporters of the measure — including the California Chamber of Commerce and advocacy groups such as Building a Better California (linked to Sergey Brin) — argue the reform would streamline environmental reviews to speed housing, transit and infrastructure projects. Opponents, including Schmidt and allies like Jane Fonda, say the changes would weaken environmental protections.
Laurene Powell Jobs in Santa Monica. The Hollywood Curtain / BACKGRID
Clean and Healthy California, a PAC co-founded by Schmidt and Fonda, raised significant sums through earlier campaigns and has redirected funds into the Prop. 45 fight. Public filings show the PAC has contributed more than $7 million since June to oppose the measure, and Wendy Schmidt is listed as a major donor to the "No on Prop. 45" effort with contributions reported above $5 million.
Actress Kyra Sedgwick. AFP via Getty Images
Fundraising and Backers
Patrick Schwarzenegger and Maria Shriver. AFP via Getty Images
Past fundraising events tied to Schmidt and Fonda drew high-profile donors from Hollywood and Silicon Valley. Reported supporters include Laurene Powell Jobs and John Doerr, who reportedly made sizable contributions to earlier anti-drilling efforts. The donors list also includes many smaller contributions from public figures and private individuals.
Wendy Schmidt and Jane Fonda. FilmMagic
Philanthropic Context
The Schmidts are longtime backers of scientific research and environmental causes. In addition to the Schmidt Ocean Institute and Schmidt Sciences, the couple has supported Advocacy Action Fund and other organizations that fund environmental campaigns and progressive causes.
Note on Sources: This article synthesizes reporting from the Wall Street Journal and local permit records, together with filings and public statements from related political action committees.
(Reporting summarized from public filings and media coverage. All monetary figures are approximate.)
