Inside Intel CEO Pat Gelsinger’s Incredible $18 Million California Property Portfolio as He Retires From Struggling Tech Company

Intel CEO Pat Gelsinger announced he has retired from his role at the struggling tech company and has also stepped down from its board of directors, a move that took effect Dec. 1, 2024—and one that saw Intel’s stock rise by 3.9% on Dec. 2.

Gelsinger, 63, who was raised in Pennsylvania, first began working for Intel back in 1979, spending a large part of his career working out of the company’s Oregon offices, before moving to rival company EMC in 2009, which saw him relocate to Massachusetts.

However, he rejoined Intel as CEO in February 2021, when he was tasked with overhauling the company and returning it to its former glory—a task he spent four years struggling to complete.

Per CNBC, Intel’s market cap is currently less than half of what it was in 2021 when Gelsinger took over and its stock has fallen 52% year to date.

The Santa Clara, CA-based company has now appointed CFO David Zinsner and Intel products CEO MJ Holthaus as interim co-CEOs, with Gelsinger conceding in a statement that it has been a “challenging year” for Intel.

“Today is, of course, bittersweet as this company has been my life for the bulk of my working career,” he said. “I can look back with pride at all that we have accomplished together. It has been a challenging year for all of us as we have made tough but necessary decisions to position Intel for the current market dynamics.”

Gelsinger, who has four children, has not yet revealed whether he plans to continue working in the tech industry or if he will instead fully retire and enjoy a quieter life with his wife, Linda Fortune, at one of their two homes in California.

The couple owns one stunning property just a stone’s throw from Intel’s headquarters in Silicon Valley. Records show the place was purchased in 2013 for $6.25 million.

The six-bedroom, 6.5-bathroom mansion sits just a 30-minute drive from the Intel offices and boasts a wealth of impressive amenities, including a library, home theater, and wine cellar.

However, if it is wine they are after, Gelsinger and his wife will likely opt to take up residence in their beautiful Kenwood, CA, home, which sits on the outskirts of Sonoma in the heart of wine country.

That eight-bedroom, 9.5-bathroom home boasts more than enough room for Gelsinger and his wife, as well as their four adult children and eight grandchildren, and even comes complete with its own “party barn.” There’s also an underground wine cellar, a pool, hot tub, and full-size tennis court.

Designed with entertaining in mind, the property is also home to a bocce court, fire pit, and enormous gardens that are perfect for “play” and parties, per the listing.

According to Realtor.com® records, the home was purchased by Gelsinger via a trust for $11.75 million back in 2023, making it the newest addition to his property portfolio.

Described in its listing as a “heavenly escape,” the home is also equipped with a generator, solar power, and two wells, making ideal for anyone who wants to retreat from the hustle and bustle of working life.

The home is a far cry from Gelsinger’s upbringing in the rural Pennsylvania town of Robesonia, where—he told the New York Times in 2022—he likely would have ended up working as a farmer if his father had had a farm for him to inherit.

Instead, Gelsinger focused on his education, ultimately heading to California, where he studied for a bachelor’s degree while also taking on his first job at Intel, explaining in a 2019 interview with Computer History Museum that his determination to achieve a high level of education was a result of his parents’ guidance.

“They just pounded into us from early ages: ‘Go to school, go to school, go to school,'” he recalled.