How Much is Howard Schultz Worth? Know all Sources of Income & Career
You might’ve definitely tasted the coffee of Starbucks. It is the giant in the business which was spearheaded by Howard Schultz. Howard the former CEO of Starbucks is a billionaire alongside the businessman like Mark Cuban, Jeff Bezos, and Richard Branson.
How much is Howard Schultz worth? Well, we’ve already discussed he is a billionaire but we’ll explore more about his sources of income and what is he doing after leaving Starbucks?
Howard Schultz’s Net Worth. Know his sources of Income
The former CEO of Starbucks Howard Schultz earned the net worth of $4.2 billion from his long-serving career in business. Schultz stories have inspired many people as his story rises from the rags to riches. The man responsible for revolutionizing the coffee industry earned most of his wealth from Starbucks.
From Starbucks Howard Schultz received more than $9 million as an annual salary. After leaving Starbucks in 2017, Howard Schultz joined politics by associating with Democratic party in 2018. But from 2019, Schultz is planning to fight the US presidency post as an independent candidate.
Besides this, Howard owns several businesses like Jamba Juice, Seattle Supersonics, and Seattle Storm. Though he later sold Seattle Supersonics and Seattle Storm for $350 million.
Howard Schultz’s Career and Starbucks
After completing his college education, Howard started to sell Xerox machines as a lower level salesman. But his hard work and commitment soon impressed his bosses and Howard became the sales representative but after some years he left the job.
Schultz made his move in the coffee industry with Swedish Drip Coffee maker named Hammarplast. He worked as the general manager for the company and impressed by his leadership skills, Howard handled twenty staffs. Working with Hammarplast was certainly his turning point in his career.
The Starbucks Journey…
Howard learned many things about the coffee business and also got introduced to the Starbucks coffee company in Seattle. In 1982, Howard Schultz joined Starbucks and started working as the director of marketing. Schultz came up with an idea to expand Starbucks after visiting Milan and understanding their coffee culture.
Upon disagreement with Owners Jerry Baldwin and other partners, Howard Schultz left the company in 1985 in hope of starting his own business venture. The risk-taking businessman started his first coffee store with an investment of $400,000 which was funded by Gordon Bowker, Jerry Baldwin, and from some doctor.
In 1988, Howard received the Starbucks retail unit for $3.8 million and in the coming years, he invested in expanding Starbucks with acquiring good real estate deals all over the world. He left the company in 2000 but return to the post in 2008.
Howard earned a salary of $1,190,000 annually with an option of $7,786,105. This made his salary jump to $9,740,471. Schultz left Starbucks on June 4, 2018, with a compensation of $30,181,610 and focused on political campaigns.
Howard Schultz’s Political Campaigns
The businessman turned his attention to politics in 2018 with the Democratic party. But in 2019, Schultz decided to run for the presidential campaign as an independent candidate. Howard postponed his decision to run for 2020 US Presidential election because of vice president Joe Biden.
However, Howard said in an interview that he avoided any public appearance because of his back surgery. Talking to CNN Town Hall, he said,
“If the math doesn’t tally up when I get to the next three or four months… I will not run for president.”
He added,
“Because I will not do anything whatsoever to reelect Donald Trump. No one wants to see him fired more than me. I’m here not saying I’m against the Democratic party as I no longer recognize how far left they’ve gone. I just don’t see myself in the party.”
Howard Schultz’s House, Cars, and Lifestyle
How Billionaires live? Everyone wonders about the luxurious houses and mansion of billionaires. Well, if you want to know about Howard’s residence, he is no different.
Howard Schultz lives in Seattle, Washington near Reed Estate in Madison Park. His house is worth $30 million. And that’s not it guys, according to Forbes, Howard purchased $33 million for a house in Four Seasons Hualalai Estate. His crib consists of 8-bedroom and expanded in 1.8 acres of land.
Schultz lives with his wife Sheri Kersch in Seattle but before that Howard faced some legal trouble with his home in Madrona. Not just that, in 2017, Howard purchased a home in New York City for $40 million.
The Billionaire businessman is driving luxury cars and living a lavish lifestyle with striving to add more to his list of assets. Having discussed his businesses and his net worth, we sure need to add that Howard is a man with a golden heart.
Howard and his wife Sheri runs a foundation called the Schultz Family Foundation which helps in promoting employment for young people. Furthermore, the foundation serves to the war veterans especially 9/11 military veterans about their PTSD.
The successful businessman is the owner of $4.2 billion and steadily adding to his bank balance from his business ventures. Howard already took the step to become the US president, to know more stay with Allstarbio.com.
