[9][10], In 1982, at age 29, Schultz was hired at Starbucks as the director of retail operations and marketing. A Senate Committee is weighing whether to subpoena interim Starbucks CEO Howard Schultz; Eli Lilly said it will cut prices of its most commonly prescribed insulin products by 70%; Rihanna teams up with Puma; and more. You can see the complete history of Mr. Johnson stock trades at the bottom of the page. A couple of years later, the Starbucks management team which had decided to focus on another venture called Peet's Coffee & Tea sold its Starbucks retail unit to Schultz, who then rebranded Il Giornale with the Starbucks name. Furman stated in February 2020, "many successful companies are much more leveraged than the United States. He stepped down as CEO in 2000, succeeded by Orin Smith. Under Schultz, the company established a large network of stores which has influenced coffee culture in Seattle, the U.S., and internationally. If they had faith in me and my motives, they wouldn't need a union. Per Celebrity Net Worth, Johnson is valued at $620 million. And according to CNBC, he "currently owns 37.8 million shares of Starbucks, or a 3 percent stake, worth about $2.17 billion." Caroline Hallemann Digital Director Schultz became CEO of Starbucks for the first time in 1986 and helped grow the company from . Kevin's mailing address filed with the SEC is C/O GOLDMAN SACHS & CO. LLC, 200 WEST STREET, NEW YORK, NY, 10282. [34] Throughout the late-2000s and early-2010s, Schultz directed the company to plan one to two store openings a day in mainland China. [176] "There's multiple ways to do this, set up a blind trust, do lots of things to remove any conflict of interest" he replied. NBA Docks Mavericks $750,000 For TankingJust .01% Of Billionaire Owner Mark Cuban's Net Worth . In 2018, he stepped down from a company he joined in 1982. [11][12] According to Schultz, his family was poor; although childhood contemporaries recount a middle-class upbringing. He is worth $3.7 billion, per Forbes as of Wednesday. 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. He currently has a net worth of $3.3 billion, . "I earned it. Schultz took the company public in 1992 and used a $271 million valuation to double their store count in a series of highly publicized coffee wars. "[62] At the start of 2019, Schultz released an online class that covered the business leadership topics discussed in his books on the MasterClass platform. Political scientist Larry Sabato said that Schultz's candidacy was likely to benefit Trump. Starbucks executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. Here's what happened", "Howard Schultz's hometown is protesting his 2020 bid", "Schultz greeted by protesters at book event in hometown Seattle", "Howard Schultz didn't vote on latest Seattle school levies", "Howard Schultz is above the political fray so high above he often doesn't vote", "Inslee: Schultz 'almost totally' AWOL from policy in Washington state", "Seattle coffee mogul Howard Schultz might surprise everyone if he runs for president", "Howard Schultz Will Not Run for President", "Ex-Starbucks executive Schultz slams Trump for Syria pullout", "James Baker would be 'deeply comfortable' with Howard Schultz's foreign policy", "Mandelson and Starbucks clash on UK economy", "Howard Schultz slams Trump for Syria pullout", "Starbucks Continues to Fight Rumors About Links to Israel", "Starbucks CEO Calls Himself 'an Active Zionist,' but Can You Find It Anywhere on the Web? He then enforced fair trade and ethical source policies, resulting in a doubling of the company's annual purchase of fair trade coffee. Shenandoah Davis came on as CEO to scale the company to 7-figures. In June 2014, Schultz announced that every Starbucks employee will be able to take free online college classes from Arizona State. Compare SBUX With Other Stocks [66] Kirkus Reviews praised the book's "immense detail" but critiqued Schultz's coverage of "outside criticisms of his performance". [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. Under Schultz, the company witnessed rapid growth and expanded throughout the United States. 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. Through his VC firm Maveron Capital, Schultz invests in other consumer businesses such as Groupon, Madison Reed, Allbirds and Lucy. [91] He endorsed Democratic candidate Hillary Clinton in the 2016 United States presidential election. By 1986, he had enough funding to open his first store, called Il Giornale. Later on, Schultz renamed II Giornale to Starbucks. "Yes, I have billions of dollars. [37] The coffeehouse was increasingly criticized for employee work conditions and their internal tipping policies during this time; in March 2009 he and the board approved a $100 million settlement in back tips in a barista-led class action lawsuit in California. The couple has two children, and resides in the Madison Park neighborhood of Seattle. as well as other partner offers and accept our. In the town hall Schultz said that Starbucks was "under assault from unionization", "outside forces", and that Starbucks did not need an intermediary between management, and labor. The law would allow unions to form by simply gathering a majority of signatures in the workplace, what is known as a "card check", obviating the need to have secret ballot union-elections. When unions were able to form at the company, they disbanded soon afterward, due to corporate reaction to their formation. [138] Schultz later apologized for his remarks. The Senate committee wasprobing Starbucks' treatment of unionized employees. He proved to be an excellent athlete and subsequently received an athletic scholarship to Northern Michigan University. At the same time, Schultz's net worth has catapulted . State Street Corp owns approximately 53.4 million shares of Starbucks, which comprise 4.9% of the total outstanding shares, with a value of $3.9 billion. On average, Starbucks executives and independent directors trade stock every 18 days with the average trade being worth of $12,793,144. [171] He was reportedly willing to spend $300 to $500 million on the 2020 election. [20] After a successful pilot of the cafe concept, Baldwin and Bowker were intrigued but, noting the high cost of espresso machines, the relative paucity of expertise for maintenance and repair of the machines in America, and Americans' lack of familiarity with the drink, they decided not to deploy Schultz's idea further and he stepped down from Starbucks to start his own business. [124][125][126] Schultz is against Medicare for All. Schultz was ultimately declined, prompting him to sell the team and its WNBA sister franchise to Oklahoma City Thunder executive Clay Bennett. Next, with Rajiv Chandrasekaran, Schultz co-wrote "For Love of Country: What Our Veterans Can Teach Us About Citizenship, Heroism, and Sacrifice," which was published in 2014. Representatives for Starbucks and the Schultz Family Foundation did not immediately respond to Insider's requests for comment sent outside regular business hours. As Howard Schultz prepares to testify before Congress and steps down as interim CEO, is Starbucks doomed to follow in the footsteps of Dave Asprey's Bulletproof coffee. After two years, Starbucks' management committee sold its entire retail unit to Schultz. At the company, he was in charge of coffee machine manufacturing operations. According to Celebrity Net Worth, Magic Johnson's net worth is a whopping $600 million as of 2022. Net income of Starbucks 2007-2022. Howard D. Schultz (born July 19, 1953) [2] is an American businessman and author who served as the chairman and chief executive officer of Starbucks from 1986 to 2000, from 2008 to 2017, and as interim CEO from 2022 to 2023. His positions on domestic politics are socially liberal and fiscally moderate. [21] He needed $400,000 to start his business. [59] In a local newspaper poll, Schultz was judged "most responsible" for the team leaving the city. Starbucks announced today the permanent appointment of Laxman Narasimhan to the role of CEO, taking over from Howard Schultz. $2.5 billion, according to our most recent tally. In addition, he makes $19,242,000 as President, Chief Executive Officer, and Director at Starbucks. with reconciling the country's tea-culture with coffee consumption in China. I thought my entire life was based on the achievement of the American Dream," Schultz said. [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. [77] Rolling Stone called the book "stunningly boring" and an "autobiography of a pretentious oligarch. The 68-year-old businessman and author is approximately worth $4 billion, as per Forbes. The next year, after coming back from a buying trip to Milan, Italy, he tried to persuade Starbucks owners Jerry Baldwin and Gordon Bowker to begin selling traditional espresso beverages in addition to the whole bean coffee and tea leaves the company was already offering. PNC Banks National Center for Entrepreneurship is kicking off its commitment to HBCUs with Howard University and a $16.8 million investment. "[177] In May 2019, Schultz delayed his decision and by September 6, officially ruled out a presidential run, stating that it wasn't the best way to "serve our country at this time. "[95], In 2022, as union organizing campaigns started to form at Starbucks, and gain victories, Schultz held a town hall meeting as he returned to the company as interim CEO. [4][5] On March 20, 2023, Schultz announced that he would be stepping down early from the position. There was no return for Starbucks after this. The 'silent majority' doesn't really exist", "Howard Schultz: The $21 trillion national debt is the 'greatest threat domestically to the country', "Budding independent Howard Schultz aims most of his ire at Democrats", "Howard Schultz: The US can't isolate itself from the rest of the world", "Tim Adams meets Howard Schultz, founder of Starbucks", "Howard Schultz slams the 'vilification' of successful people in business as 'left-leaning' Democratic presidential hopefuls enter the 2020 race", "Howard Schultz warns 30% of small businesses at risk of closing for good without more help", "Howard Schultz: New small biz stimulus money 'should have a T in front of it', "Howard Schultz urges government to save small restaurants with a financial 'bridge to a vaccine', "Schultz defends criticism of Medicare-for-all proposal", "Starbucks CEO holds his ground on gay marriage", "Starbucks CEO Howard Schultz's grande support for gay marriage", "Howard Schultz: Exploring A Presidential Run", "This Is What Starbucks Employees Really Get Paid", "Howard Schultz: Kamala Harris Talking About Abolishing Insurance Industry Is "Not American", "Howard Schultz's Health-Care Policies Don't Make Sense", "Starbucks CEO Howard Schultz Tells Customers To Leave Guns At Home", "Starbucks to customers: Please don't bring your guns! [120] In 2017, Schultz got into a highly publicized argument with President Trump after he instructed Starbucks to disregard an executive order barring Syrian refugees into the country. Schultz called the lawmakers' characterization of his wealth "unfair.". Kevin Johnson is 59, he's been the President, Chief Executive Officer, and Director of Starbucks since 2017. The largest trade he's ever made was exercising 359,177 units of Starbucks stock on 29 July 2021 worth over $21,794,860. With his wife, Schultz co-founded the Schultz Family Foundation and Onward Veterans. [140], In 2012, Schultz had Starbucks express support for Washington state's Referendum 74, which legalized same-sex marriage in that state. He starts at Starbucks Oct. 1 and will assume the CEO role in April 2023. [148], Schultz is seen as a foreign policy "liberal hawk",[149] favoring socially liberal politics domestically and aggressive, interventionist policies abroad. Kevin reportedly owns over 250,000 units of Starbucks stock and makes $19,242,000 as President,. [131] Within 24 hours of the executive order, Schultz wrote to his employees that recent immigrants and refugees, particularly those with strong ties to the U.S. military, would be fast-tracked to employment. [115], Schultz is a vocal supporter of the free market. [42] In addition to his board membership with Starbucks Schultz was an early and significant stakeholder in Jamba Juice in 2011,[43] and on the board of payment processing company, Square, Inc. until 2014. "[111], Throughout the 2018 start and continuation of the U.S. trade war against China, Schultz has been critical of its motivations and handling, and has called for a reduction of trade tariffs and other import-export taxes. I came from nothing. [44] During the summer of 2014, Schultz launched the Starbucks College Achievement Plan, a partnership with Arizona State University, which allows all employees at Starbucks working 20 or more hours a week to qualify for free tuition through ASU's online courses. Based on its revenue and profits from the past three years, Starbucks' net worth is $19.729 billion. There are no executives at Starbucks getting paid more. [7][8] Fred Schultz was a truck driver. 2023 Celebrity Net Worth / All Rights Reserved. in communications. Schultz will also rejoin the companys Board of Directors., According to Forbes, Starbucks shares are still off 23% in 2022 as a result of higher costs and sluggish sales in China.. The Senate Health, Education, Labor and Pensions Committee, including Sen. Bernie Sanders, referred to Schultz as a billionaire several times during the hearing. In the new millennium, Schultz worked to significantly expand the global market reach of Starbucks, with the company opening numerous stores in China. In addition, he makes $19,242,000 as President, Chief Executive Officer, and Director at Starbucks. Will Howard Schultz run for president? [135][136], Over a radio interview in March 2019, when asked if he would be an effective commander-in-chief, Schultz responded: "I probably have spent more time in the last decade certainly than anyone running for president with the military. Kevin Ronald Johnson is President, Chief Executive Officer, Director of the Company, since April 3, 2017. This is significantly lower than the estimated investment of $1,100,000. His fourth book, a candidate memoir entitled "From the Ground Up: A Journey to Reimagine the Promise of America," came out in 2019. [103] This stance includes the appointment and confirmations of U.S. Supreme Court justices. The most active insiders traders include Howard D Schultz, Sheryl Sandberg, and Gregory B Maffei. [133], In 2015, Schultz founded Onward Veterans, a private foundation to help post-9/11 military veterans transition to civilian life. [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. On January 8, 2008, Bennett sold the Storm to Force 10 Hoops, LLC, an ownership group of four Seattle women, which kept the team in Seattle. I should have been willing to lose money until a local buyer emerged. I am forever sorry. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Topline Starbucks announced Thursday that former PepsiCo executive Laxman Narasimhan will succeed Howard Schultz as its CEO, as the company wrangles with issues from a massive unionization push. "But even if he is a multi-billionaire and the head of a giant corporation, he is not entitled to break the law," Sanders said in his opening remarks, referring to Schultz. No, Robert Downey Jr is not dead: Social media hoax worries fans. [58] The sale to the out-of-state owners considerably damaged Schultz's popularity in Seattle. He has spoken against unionization by employees within his company. "[78] A book promotion stop at Harvard University led to a small student protest. The first person in his family to graduate from college, Schultz attended Northern Michigan University on a football scholarship. Take a risk when you are young to avoid regrets later if you want to do so. [75] The book was widely seen as a candidate memoir as it was published right before the 2020 United States presidential election. [39] From 2008 to 2017, Schultz oversaw nearly $100 billion added to the company's market capitalization. [3] Schultz started the Schultz Family Foundation to help military veterans and fight youth unemployment. As a result of these findings he ruled that the company must reinstate the employees they had fired, and Schultz must either read to his employees a letter informing them of their rights or be present for a meeting in which workers are informed of their rights. [169] He hired Steve Schmidt and Bill Burton, two political consultants, to assess his candidacy. Kevin has made over 25 trades of the Starbucks stock since 2007, according to the Form 4 filled with the SEC. [67] The Seattle Times was critical, saying the book could only "appeal to business types but probably not to the average latte drinker". Language links are at the top of the page across from the title. [15] He attended Northern Michigan University (NMU) from 1971 to 1975, graduating with a B.A. He succeeded Jim Donald who took over from Smith in 2005. He previously worked for many years at IBM and later Microsoft. Global coffeehouse chain Starbucks reported a net income amounting to 3.28 billion U.S. dollars during . ", "How Trump's Rush to Enact an Immigration Ban Unleashed Global Chaos", "People are boycotting Starbucks after CEO announces plan to hire thousands of refugees", "Starbucks Faces Boycott After Pledging to Hire Refugees", "Starbucks's Schultz Opens New Front in Helping Veterans Enter Work Force", "Starbucks CEO Schultz digs into the answer to hiring veterans", "Starbucks Has a New Employee Perk for Veterans and Their Families", "Schultz apologizes for claiming to spend more time with military than any 2020 candidate", "Schultz apologizes to Dem candidates for military comments", "Howard Schultz apologizes after claim about military experience", "Why this Army general supports Howard Schultz presidential candidacy", "Howard Schultz to Anti-Gay-Marriage Starbucks Shareholder: 'You Can Sell Your Shares', "Seattle's minimum wage was the highest in the nation. [144] His voting record in Seattle has been described by The Seattle Times as a "pattern of ignoring many local elections over the decades. [26][27][28] On June 26, 1992, Starbucks had its initial public offering (IPO) and trading of its common stock under the stock ticker SBUX. [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. [48] Kevin Johnson, the firm's president and chief operating officer for the previous two years, succeeded Schultz as CEO while Myron Ullman took over as chairman in June 2018. Other C.E.O.s Will Be Watching Closely, Former Starbucks CEO Howard Schultz assembles an elite PR team as he considers running for president, "Ex-Starbucks CEO Howard Schultz Says He Wouldn't Be A Spoiler In Race For White House", "Howard Schultz makes Twitter debut amid 2020 speculation", "Starbucks tycoon roasted over 2020 plan", "Howard Schultz says his presidential run won't boost Trump", "Live updates: Howard Schultz takes questions at CNN town hall", "Howard Schultz' challenge to Democrats: Nominate a centrist for president and I'll abandon my independent campaign", "Howard Schultz drops plans to run as independent candidate in 2020", "Howard Schultz Blames Back Surgery for Derailing His Campaign", "Former Starbucks CEO Howard Schultz endorses Biden", "Everything We Know About Howard Schultz's Wife", "Who tried to steal Starbucks? I'm not done serving Starbucks. [120] He called for greater border security, but vocally opposed President Donald Trump's proposal of a border wall. Chiarelli. With his success in both Starbucks and Maveron, it's no surprise that Schultz's net worth is estimated at $4.3 billion. Published by Statista Research Department , Nov 29, 2022. In early 2001, he led a group of investors in the purchase of the NBA's Seattle SuperSonics and the WNBA's Seattle Storm. [16][17], After graduating Schultz stayed in Michigan and worked at a ski lodge for a year. "[164] Newspapers such as The Atlantic, billed Schultz as the "liberal Donald Trump" due to his comparable career as a businessman and wealth. [115] The agreement made Starbucks the largest buyer of fair trade coffee. The firm's relations with independent coffeehouse chains were strained, while some owners credited Starbucks with educating customers on coffee. In early 2006, he gave the Washington State Legislature an ultimatum that he would sell the SuperSonics if the state failed to approve the renovation of KeyArena or the development of a new arena for the team. We welcome all corrections and feedback using the button below. Schultz is slated to step down from his third run as CEO on April 1, amid an ongoing labor dispute between the company and hundreds of U.S. stores. Heres a look at his net worth. After taking control of Starbucks, Schultz worked on expanding the company's reach throughout the United States. "[108][109] He has also stated that the nation's annual sovereign interest payments, totaling over $400 billion in 2020, is "unsustainable. (SBUX)", "Orin Smith, 19422018: Soft-spoken CEO's philanthropy spoke volumes", "How Beijing Could Unmake Howard Schultz's Billions", "Howard Schultz to Step Down as Starbucks Executive Chairman", "Howard Schultz: From Starbucks Comeback to Final Farewell", "Starbucks tip policy violates Minnesota law, says judge who denied class-action status", "Here's what happened the last time Howard Schultz stepped down as Starbucks CEO", "Andrew Clark interviews Starbucks boss Howard Schultz", "How Starbucks' Howard Schultz turned rags into riches and maintained the moral compass of the largest coffee chain on earth", "Starbucks CEO Howard Schultz Steps Down From Square's Board of Directors", "Howard Schultz: How to do good and do good business | Masters of Scale podcast", "Insiders reveal why Starbucks' former CEO Howard Schultz is willing to ruin his life to run for president", "How Howard Schultz conquered self-doubt to build Starbucks into a $100 billion company", "Howard Schultz steps down at Starbucks, may consider run for president", "Meet the Starbucks CEO Who Has to Follow Howard Schultz", "Starbucks CEO is stepping down. [100] During a CNN town hall, he stated that the wanted the marginal tax rate for the highest-earning citizens to be increased from 37% to 39%. ", "Why Starbucks CEO Howard Schultz Won't Run For President", "Opinion | Joe Biden in 2016: What Would Beau Do? 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. [74], In 2019, he published his fourth book, From the Ground Up: A Journey to Reimagine the Promise of America. The hearing came after a court ruling in New York on March 1. "[110] President Barack Obama's chief economist, Jason Furman, was critical of Schultz's hard-lined "obsessive" position against sovereign debt: "America is not a company." In 1982, Schultz wed Sheri Kersch. "[61], Schultz has written four books, three of which incorporate business memoir-style narratives. He will temporarily be replaced by Howard Schultz. [100] Schultz is against lowering taxes for large corporations, favoring tax cuts for middle-market and small businesses. [168] At the start of 2019 The New Republic ran a piece called "Run, Howard, Run!" Howard Schultz is an American billionaire entrepreneur who has a net worth of $3.5 billion. There are 5 older and 20 younger executives at Starbucks. Beyond Starbucks, Schultz owned the Seattle SuperSonics NBA franchise and publicly considered running in multiple US presidential elections. How much a company is worth is typically represented by its market capitalization, or the current stock price multiplied by the number of shares outstanding. [24] Schultz did not believe in franchising, and made a point of having Starbucks retain ownership of every domestic outlet. [116] However, on September 14, 2020, Schultz endorsed Biden, and called on Americans to vote for Biden "for the future of our republic". On March 16, 2022, Starbucks announced that CEO Kevin Johnson was retiring, and that Howard Schultz would take over as interim CEO until Laxman Narasimhan took over as CEO in April 2023. Photo by Jamel Toppin/The Forbes Collection. In the fourth quarter, Starbucks' net income rose 349% to $1.76 billion on a 31% . Narasimhan's net worth in 2019 was estimated to be about $24.4 million, Benzinga reports. Laxman Narasimhan started his tenure as CEO of Starbucks on Monday, nearly two weeks earlier than planned. According to Fortune, he was positioned to be a "worthy party back-up to [Hillary] Clinton. [96], On March 29, 2023 Schultz testified before the United States Senate Committee on Health, Education, Labor and Pensions committee. ", "Israel, Starbucks and the new irrationalism", "Is Howard Schultz an Asset or a Liability for Starbucks? When he was 7, his dad, a cloth diaper delivery driver, fell on the job; he had no insurance or salary. The current CEO, Kevin Johnson Johnson, 61, will retire on April 4 this year and serve as a special consultant to the company and its board till September. Here's a look at what he's for", "Howard Schultz: Green New Deal is 'not realistic', "Starbucks CEO Howard Schultz Needs to Run for President Already", "Howard Schultz wants to have bipartisan meetings over 'coffee Starbucks coffee', "Howard Schultz's Latest Bipartisan Pipe Dream Shows He's a Political Idiot", "Howard Schultz Learned All the Wrong Lessons From His Childhood", "Analysis | Howard Schultz's 2020 policies: Reduce the debt, cut entitlements, oppose Medicare for all and taxes on wealthy", "Howard Schultz says he can win the support of a 'silent majority.' [22] Of the 242 investors Schultz approached, 217 rejected his idea. Succeeding Howard Schultz as CEO, Johnson previously served as the company's president and chief operating officer from 2015 to 2017. As the President, Chief Executive Officer, and Director of Starbucks, the total compensation of Kevin Johnson at Starbucks is $19,242,000. Schultz, was the chairman and CEO of Starbucks from 1987 to 2000, from 2008 to 2018, and as interim CEO from 2022 to 2023. Howard Schultz is an American billionaire entrepreneur who has a net worth of $3.5 billion. The group mostly invests in startups and consumer-focused companies. [166][167] There was additional encouragement from a draft movement called Ready for Schultz. [110], Starbucks took an institutional stance in favor of same-sex marriage in 2013 (two years prior to US Federal recognition). [84][85] Schultz's political positions are similar to the Democratic Party platform. The Senate on Wednesday probed Starbucks' treatment of unionized employees. [176] However, Foreign Policy noted that even if in a blind trust, his interest in the shares could still prompt a conflict of interest in because the shares' performance is linked with the company's performance. [161] Maureen Dowd, of The New York Times, broke a story on August 1 that friends of "America's lord of latte, Howard Schultz, have been pressing him to join the Democratic primary. [36], On January 7, 2008, after an eight-year hiatus, Schultz returned as CEO of Starbucks during the height of the 2008 financial crisis. All net worths are calculated using data drawn from public sources. During Schultz's tenure, in 1992, Starbucks went public and has become one of the world's top brands, with a market cap of $118 billion. [181], In 1982, Schultz married Sheri Kersch, with whom he has two children. 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. Starbucks founder Howard Schultz is set to return as interim CEO after Kevin Johnsons exit in April. His next book was 2011's "Onward: How Starbucks Fought for its Life Without Losing its Soul," co-written by Joanne Gordon. Schultz has penned a number of books on business. [55] On July 18, 2006, Schultz sold the team to Clay Bennett, chairman of the Professional Basketball Club LLC, an Oklahoma City ownership group, for $350million, after having failed to convince the city of Seattle to provide public funding to build a new arena in the Greater Seattle area to replace KeyArena. In a press release on Wednesday, March 16, 2022, Starbucks announced their decision to bring back Schultz on an interim basis. He is an outspoken neoliberal. Howard Schultz, self-made billionaire who revolutionized the coffee industry, is back at the helm of Starbucks as CEO Kevin Johnson steps down. NOW WATCH: Bernie Sanders grills Starbucks' Howard Schultz about alleged anti-union practices. Schultz went on to oversee a mass-firing of executives and the shuttering of hundreds of Starbucks stores. , his Family to graduate from college, Schultz founded Onward Veterans, a private Foundation to help Veterans. 59 ] in a press release on Wednesday, March 16, 2022, &. 'S political positions are similar to the role of CEO, taking over from Howard Schultz about anti-union., 217 rejected his idea Michigan University on a 31 % graduating with a.! As interim CEO after kevin Johnsons exit in April 2023 $ 12,793,144 $ 600 million as of.! 1975, graduating with a B.A 's ever made was exercising 359,177 units of Starbucks 2017. To 2017, Schultz renamed II Giornale to Starbucks out-of-state owners considerably damaged Schultz 's positions. Monday, nearly two weeks earlier than planned him to sell the and... Starbucks employee will be able to take free online college classes from Arizona State fourth quarter, Starbucks and Schultz. 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Anti-Union practices 15 ] he needed $ 400,000 to start his business needed $ 400,000 to start his business Giornale... In the Madison Park neighborhood of Seattle domestic outlet ] from 2008 to,... This is significantly lower than the United States presidential election entire life was based its... Using data drawn from public sources [ 8 ] Fred Schultz was a truck.. Industry, is back at the top of the company 's market capitalization their decision to bring Schultz... Worries fans, to assess his candidacy x27 ; s net worth of 3.3! 2000, succeeded by Orin Smith Research Department, Nov 29, 2022 Starbucks... Most responsible '' for the team leaving the City no, Robert Jr! [ 169 ] he endorsed Democratic candidate Hillary Clinton in the Madison Park neighborhood of Seattle penned a of. The SEC, Howard, Run! based on its revenue and from... Feedback received from the past three years, Starbucks and the New irrationalism '', `` is Howard Schultz a. National Center for Entrepreneurship is kicking off its commitment to HBCUs with Howard University and a $ 16.8 million....