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Eldrus was a very enterprising wizard, with many houses and disguises around the Realms. In his youth Eldrus discovered some usefully ubicated gates, that permitted him to easily move up and down the Sword Coast, travel to Vilhon Reach, and a wizard's tower full of potions - among them a small hoard of potion of longevity.
He had many adventures in his active years. Several examples include a time Eldrus found a wrecked spelljammer ship in the Wood of Sharp Teeth, and piloted it to a resting place in the depths of the Lake of the Long Arm just for fun. Or when he destroyed the fortress of Sorlauv of Athkatla, taking the captured treants there to use in experiments, and to create an army for himself. Eldrus also thieved the Evard's black tentacles spell from Candlekeep, selling many copies of the scroll under the guise of an ex-adventurer.
Among other things, Eldrus was also a strange romantic. He took lovers in all places, but usually he set each of these ladies in a cottage. After he went away he magically spied on them - in order to protect them and provide them with resources. If any of his lovers had a child, Eldrus would send dreams with instructions for the future of his sons and daughters, posing the basis for the Waterdeep house sharing his name.
In 409 he was hired to stop the Magister Eleedra Nathchant, who used her powers to seduce and influence the rulers of the Realms. After slaying her, Eldrus inherited the title of Magister. One of his legacies as Magister were many standing stones around the Realms. When Eldrus found a wizard being needlessly cruel or harsh, he transformed them into stone, followed by a second spell to sheathe them in an additional layer of rock. The result was a sort of elemental prison, one that was protected from the elements, and also immune to the effects of a simple dispel magic.
Despite his many longevity magic items and spells, Eldrus aged to become a grandfather-esque figure, interested more in jokes than wealth - using his magic for kindness. His ability to hide his true nature ensured that no challenging wizards came calling during his reign as Magister. He died in 516, in a winter snow near Hill's Edge, by some accident or from fever gained by walking alone in the raging storm.