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Former Starbucks CEO Howard Schultz and his wife announced they’ve moved to Florida for their “retirement phase,” leaving Washington state after nearly half a century.
Schultz shared the news in a post on LinkedIn, recounting how he, his wife Sheri, and their golden retriever Jonas, made the move from New York City to Seattle 44 years ago.
“We were starting a new life,” Shultz wrote, recalling how Sheri would be their primary income earner as he started a new job “at a place called Starbucks” in September 1982.
Schultz would later become the coffee company’s CEO, serving in the position from 1986 to 2000, from 2008 to 2017, and as its interim CEO from 2022 to 2023.
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“The spirit of continuing forward has long underpinned our approach to life—in business, in philanthropy and most importantly, as a family,” Schultz wrote. “For those of you who know us well, we have entered the ‘retirement’ phase of our lives. (A term we are both just getting used to.)”
Schultz added that he and Sheri moved to Miami, where they were enjoying the sunshine and being close to their kids on the East Coast as they raised their own families.
“We will be forever grateful for the memories made in Seattle and the relationships built along the way,” Schultz wrote. “To the family, friends and partners who made Seattle our home for so many years, thank you.”
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Schultz has an estimated net worth of $3.5 billion, according to Forbes.
The news of Schultz’s move to Florida comes a week after Starbucks said it will be opening a new corporate office in Nashville.
Both announcements come as Washington state has been working to pass what has been dubbed the “millionaires tax,” which would impose a 9.9% income tax on households earning more than $1 million annually.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 101.44 | +0.67 | +0.66% |
The Washington State House of Representatives passed the controversial bill in a 51-46 vote. The bill must now be confirmed by the State Senate before Democratic Gov. Bob Ferguson can sign it into law.
