Johnson. [146] Washington governor Jay Inslee, who was running against Schultz in the 2020 election, criticized him for his absence in state politics. Global coffee and food retailer Starbucks operates more than 30,000 stores in 80 markets. [34] Throughout the late-2000s and early-2010s, Schultz directed the company to plan one to two store openings a day in mainland China. In September 2013, Howard angered some gun owners by asking people to not bring guns into Starbucks locations. Succeeding Jim Donald, Schultz led a mass firing of executives and employees and shuttered hundreds of stores. Former Starbucks CEO Howard Schultz, who is worth $3.7 billion, was incensed when he was labeled a billionaire during a Senate hearing on Wednesday. [17] By 1986, he had raised the money he needed to open the first store, Il Giornale, named after the Milanese newspaper of the same name. [89] After he instructed Starbucks employees in Washington to write "come together" on all cups to encourage bipartisanship in the federal government on December 26, press speculation intensified. [98], As chief executive of Starbucks, Schultz has commented on the impact climate change has on coffee production. [133], In 2015, Schultz founded Onward Veterans, a private foundation to help post-9/11 military veterans transition to civilian life. What might he change to improve the company? He is worth $3.7 billion, per Forbes as of Wednesday . ", "Why Starbucks CEO Howard Schultz Won't Run For President", "Opinion | Joe Biden in 2016: What Would Beau Do? [185] Although not firmly committing to sell his shares upon election, Schultz has expressed interest in setting up a blind trust to hold his shares. "[121] His response was widely publicized, with The Washington Post stating: "Schultz [did] something CEOs rarely do: He told off a shareholder. These terminations took place despite a notice of formal complaint from the National Labor Relations Board against the retaliatory practices Starbucks had taken against employees who were working to unionize the corporation. Howard Schultz grew up in an extremely poor family, Starbucks' Howard Schultz Steps Down, Fuels Presidential Campaign Rumors, Rags To Multi-Billionaire Starbucks CEO Howard Schultz Steps Down To Focus On Philanthropy And Social Causes, Raised Dirt Poor In A NYC Housing Project Today Starbucks Tycoon Howard Schultz Is A Multi-Billionaire. $2.5 billion, according to our most recent tally. [189][190], In 1996, Howard and Sheri Schultz co-founded the Schultz Family Foundation, which supports Onward Youth, aimed at promoting employment for young people between the ages of 16 and 24 who are not in school and not working,[191][192] and Onward Veterans, which is poised to help post-9/11 military veterans to successfully transition to civilian life. Schultz also owned the Seattle SuperSonics basketball team from 2001 to 2006. A neoliberal technocrat, Schultz supports free trade, tax reform, gun control, and a balanced budget. "[71] It was later added to the Times' 2014 Winter Reading List. In the summer of 1992, Starbucks went public, raising $271 million. Jeff Bailey, of the Los Angeles Times, called the book "self-flattering" and criticized its "mostly perfunctory account of Starbucks' actual problems". [57] On July 2, 2008, the city of Seattle reached a settlement with the new ownership group and the SuperSonics moved to Oklahoma City and became the Thunder for the 200809 NBA season. [76] His book received 1.9/5 stars on Amazon, after some Democratic voters gave negative reviews, due his possible candidacy splitting the Democratic vote. Will Howard Schultz run for president? At the company, he was in charge of coffee machine manufacturing operations. [99] He has opposed the United States withdrawal from the Paris Agreement. The hearing came after a court ruling in New York on March 1. ', "Howard Schultz | Biography, Starbucks, & Facts", "The first Starbucks coffee shop, Seattle a history of cities in 50 buildings, day 36", "How Howard Schultz ran Starbucks tells us how he might run America", "Forty years young: A history of Starbucks", "Starbucks, "The Third Place", and Creating the Ultimate Customer Experience", "Seattle Coffee Guide: The Evolution of Coffee", "STARBUCKS COFFEE ANNOUNCES INITIAL PUBLIC OFFERING Free Online Library", "7 Fun Facts about Starbucks In Honor of Its IPO's 25th Anniversary", "Why did Howard Schultz leave Starbucks, only to return eight years later? As the President, Chief Executive Officer, and Director of Starbucks, the total compensation of Kevin Johnson at Starbucks is $19,242,000. The Employee Free Choice Act never made it into law.[94]. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. [134] In 2014, Schultz authored his first non-business book, For Love of Country: What Our Veterans Can Teach Us About Citizenship, Heroism, and Sacrifice, co-written with Rajiv Chandrasekaran. Mr. Johnson owns over 250,000 units of Starbucks stock worth over $77,020,322 and over the last 16 years he sold SBUX stock worth over $3,502,600. By the summer of 2014, Maveron was worth $1.3 billion in assets under management. "[78] A book promotion stop at Harvard University led to a small student protest. They live in Seattle's Madison Park neighborhood, having previously lived near Madrona. [81][82] Reuters rated the book highly, yet called it "caffeine free" for its inability to "harness his business success" in a potential White House run. [93], In 2009, a bill known as the Employee Free Choice Act was being proposed by the 111th Congress for passage into law by government officials. Under Schultzs leadership, Starbucks became an international brand with over 34,300 stores worldwide in 2022. [184], Schultz was named the 209th-richest person in the U.S. in October 2020 by Forbes with a net worth of $4.3 billion. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Howard Schultz is best known for serving as the CEO of the coffee chain Starbucks. In 2020 he described the treatment of business and capitalism by American society as "vilification". [160] Papers continued to question the finality of his decision with New York Magazine writing "We look forward to your 2016 campaign". [35] On June 4, 2018, Schultz announced that he would retire from active management of Starbucks, after 37 years, as he was considering amongst other options a campaign for U.S. He decided to turn the store into anespresso-based drinks cafe altogether. Published by Statista Research Department , Nov 29, 2022. The ordinance passed. At the same time, Schultz's net worth has catapulted . Remaining in Michigan after graduating from college, Schultz took a job at a ski lodge for a year. 2023 Celebrity Net Worth / All Rights Reserved. His fourth book, a candidate memoir entitled "From the Ground Up: A Journey to Reimagine the Promise of America," came out in 2019. [71] The book discussed the U.S. military's role in the Iraq War and War in Afghanistan, and their transitions back into civilian life. All Rights Reserved. The oldest executive at Starbucks Corp. is MyronUllman, 73, who is the Independent Chairman of the Board. Howard Schultz returning as interim boss", "Why Schultz tuned out and sold out the Sonics", "Seattle Super Bowl Scores Points for Paul Allen, Sacks Howard Schultz", "Howard Schultz plans to sue Clay Bennett to get Sonics back", "Want to Learn Business Skills From Howard Schultz or Writing From Malcolm Gladwell? He started his own coffee shop, Il Giornale, and ultimately bought Starbucks from the original owners. [22] Of the 242 investors Schultz approached, 217 rejected his idea. Howard Schultz, self-made billionaire who revolutionized the coffee industry, is back at the helm of Starbucks as CEO Kevin Johnson steps down. [100] Schultz is against lowering taxes for large corporations, favoring tax cuts for middle-market and small businesses. In a piece published by Reuters, the news organization noted Schultz's overall vision on unions, and their place at Starbucks. Howard Schultz is an American billionaire entrepreneur who has a net worth of $3.5 billion. [170] On January 27, 2019, he stated in an interview with 60 Minutes that he was exploring a run for president as an independent candidate, and that he considered running as a centrist. Several years ago, I stood near a trailer park in downtown Las Vegas, listening to Zappos founder Tony Hsieh explain why the city didnt really have a water problem. He eventually grew the company to the massive empire it is today. What is Howard Schultz's Net Worth? Following that gig, Schultz was recruited by the Swedish kitchenware manufacturer Hammarplast to become the general manager of its American division. [120] He called for greater border security, but vocally opposed President Donald Trump's proposal of a border wall. [120] He also opposed Donald Trump's passage of the Tax Cuts and Jobs Act of 2017, which lowered high-income and corporate taxes. During these union organizing campaigns by Starbucks employees, the corporation has been firing employees who have engaged in unionizing. When unions were able to form at the company, they disbanded soon afterward, due to corporate reaction to their formation. Howard Schultz was born on July 19, 1953 in the Brooklyn borough of New York City to Jewish parents Elaine and Fred. [39] At this time, Schultz was earning a total compensation of $9.7 million, which included a base salary of $1.2 million, and stock options granted of $7.8 million. He is credited as Starbucks founder despite the company being founded in 1971 by Jerry Baldwin, Zev Siegl, and Gordon Bowker at Seattles Pike Place Market. [51], In January 2001, Schultz led a group of ten investors who bought the National Basketball Association's Seattle SuperSonics and the Women's National Basketball Association's Seattle Storm from the Ackerley Group for $200million. Howard Schultz grew up in an extremely poor family. [87][88], Schultz hosted a fundraiser in his Seattle home for John Edwards during the 2008 presidential election cycle, eventually donating to the campaigns of Hillary Clinton and Barack Obama. Per Celebrity Net Worth, Johnson is valued at $620 million. Last updated: 20 January 2023 at 4:36pm EST. Over the last 20 years, insiders at Starbucks have traded over $223,268,976 worth of Starbucks stock and bought 551,798 units worth $35,736,158 [75] The book was widely seen as a candidate memoir as it was published right before the 2020 United States presidential election. "I grew up in federally subsidized housing, my parents never owned a home. When you go to sell a Starbucks store based on the median multiple of .36 and net sales estimate of $1,235,000, it would sell for $444,600. [138] Schultz later apologized for his remarks. [83], Schultz is an outspoken neoliberal, centrist, technocratic, and political independent. [182] His son, Jordan, is a sports analyst and NFL insider currently working for ESPN. Mr. Johnson has been a Starbucks director since March 2009. Jeff Bezos is the world's richest person. [171] He was reportedly willing to spend $300 to $500 million on the 2020 election. 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