Howard Schultz Biography
Howard Schultz is an American businessman and author who served as Starbucks’ chairman and CEO from 1986 to 2000, from 2008 to 2017, and as temporary CEO from 2022 to 2023. From 2001 to 2006, Schultz also controlled the Seattle SuperSonics basketball team.
How old is Howard Schultz? – Age
He is 70 years old as of 19 July 2023. He was born in 1953 in Brooklyn, New York, in the United States. His real name is Howard D. Schultz.
Howard Schultz Family – Education
Schultz was born in Brooklyn, New York, on July 19, 1953, to Ashkenazi Jewish parents, Fred and Elaine Schultz. Fred Schultz drove a truck. Howard has two younger siblings. Schultz grew up in the public housing buildings of Canarsie. According to Schultz, his family was poor, despite the fact that his contemporaries describe him as having a middle-class background.
Schultz volunteered at the Boys Club of New York after school. He is an active member of the Boys’ Club of New York Alumni. Schultz attended Canarsie High School and graduated in 1971. From 1971 to 1975, he attended Northern Michigan University (NMU) and earned a B.A. in communications.
Howard Schultz Wife – Children
Schultz married Sheri Kersch in 1982, and they have two children. Jordan, his son, is a sports analyst and NFL insider who presently works for ESPN. They now live in the Madison Park district of Seattle, having formerly lived near Madrona.
Howard Schultz Net Worth – Wealth
With a net worth of $4.3 billion, Schultz was named the 209th richest person in the United States by Forbes in October 2020. His consideration of running for political office has spurred calls for him to sell all of his Starbucks stock to avoid any conflict of interest. Although he has not made a specific commitment to sell his shares if elected, Schultz has expressed interest in establishing a blind trust to hold his interests. However, Foreign Policy stated that even if in a blind trust, his involvement in the shares might still result in a conflict of interest because the performance of the shares is tied to the performance of the company. Schultz co-founded startup capital fund Maveron with investment banker Dan Levitan in 1998.
He and Levitan’s primary investments are in start-ups and seeding consumer-focused companies like eBay, Shutterfly, and Zulily. The venture capital firm had $1.3 billion in assets under management (AUM) as of July 2014. Schultz’s net worth is $3.9 billion as of July 2022. Schultz is the owner of ‘PI,’ a $120 million luxury superyacht built by Feadship.
Howard Schultz House
Schultz purchased an 8-bedroom property on 1.8 acres in the elite Four Seasons community in Hawaii. He paid a total of $25 million. The property’s vast 10,641-square-foot living space and large lot size make it a unique find in this part of Hawaii. The hotel is part of the premium Four Seasons Hualalai Resort development, which includes two golf courses, a variety of sports and beach clubs, and swimming. The house has nine bathrooms, a media room, a Jacuzzi, and an infinity-edged pool.
According to property records, William Jahnke was the seller. Jahnke is the former CEO of Wells Fargo Investment Advisors. Kukio, Hawaii’s most exclusive town, located just south of Hualalai and is home to a slew of wealthy businessmen. The house is set back from the Pacific Ocean on the edge of the resort’s golf course, with views of mountains, lava rock, and coconut trees.&nb. The house is spread across two adjacent properties, with the main house on one and a series of four smaller pods on the other.
Howard Schultz Yacht
Schultz’s $145 million futuristic superyacht is just as captivating as his company’s Reserve Roasteries. The 253-foot-long ship features zen-inspired interiors, a world-class spa, and a giant glass-bottomed pool. There are rich yachts, innovative yachts, and stunning yachts. The only one dubbed auspicious is Starbucks CEO Howard Schultz’s $145 million futuristic superyacht, Pi. The Pi yacht, one of Feadship’s finest creations, was originally known as Syzygy 818. A slew of evidence suggests that Pi being labeled propitious is more than a coincidence. In Chinese mythology, the number 818 equals ‘prosperous’.
Richard Schultz’s Pi motoryacht is a luxury vessel that has won multiple honors, including Motor Yacht of the Year and Best Displacement Motor Yacht Between 1,500GT and 1,999GT. The 254-foot vessel is known for its glass-covered superstructure and Sinot Yacht Design’s Japanese-inspired interiors. The $145 million yacht won The World Superyacht Awards 2019 for its huge floor-to-ceiling windows with no mullions, which blurred the distinctions between interiors and exteriors. The 21st largest ship can accommodate up to 12 people in 16 magnificent guest rooms and features a glass-bottomed swimming pool and a world-class spa. The yacht also has a dramatic spiral staircase and plenty of lounge space, including a sofa that seats eight people. Pendennis Shipyard, one of the world’s leading superyacht repair and custom build facilities, worked on the vessel. The $145 million boat travels at 18.4 knots thanks to two engines. Schultz is regarded as the coffee world’s King Midas, having converted Starbucks from a provincial coffee company in the 1980s to one of the world’s top brands.
Howard Schultz Starbucks
Schultz started working for Starbucks in 1982. subsequently, he left to create Il Giornale, a specialty coffeeshop that subsequently amalgamated with Starbucks in the late 1980s. Under Schultz’s leadership, the company created a massive network of stores that influenced coffee culture in Seattle, the United States, and around the world. Starbucks became the world’s largest coffee-house business after striking large-scale distribution partnerships. Schultz left Starbucks in 1985 to open his very own store, Il Giornale, named after the Milanese paper of a similar name. The store offered frozen yogurt notwithstanding espresso, had little seating, and played show music behind the scenes.
In 1992, Starbucks had its first sale of stock (Initial public offering) and exchanging of its generally expected stock under the stock ticker SBUX. The Initial public offering raised $271 million for the organization and supported the multiplying of their stores. On June 1, 2000, Schultz ventured down as President of Starbucks, moving to the new place of boss worldwide tactician to assist the organization with growing globally. He was prevailed by Orin Smith, who worked with Schultz as his CFO during the 1990s.
In the wake of planning the main store opening in China in January 1999, Schultz required the next year to foster a client base for espresso in the locale. All through the last part of the 2000s and mid 2010s, Schultz guided the organization to design one to two store openings daily in central area China. Notwithstanding, different espresso battles with McDonalds and Dunkin’ brought down Starbucks’ marketshare and the stock cost fell 75% from 2006 to 2008.
Schultz returned as Chief of Starbucks during the level of the 2008 monetary emergency, succeeding Jim Donald who took over from Smith in 2005. During this time, the café was progressively reprimanded for representative work conditions and inward tipping arrangements. Schultz drove a mass-terminating of leaders, shut down many stores, and briefly shut all U.S. areas to retrain representatives in making coffee.
Schultz again ventured down as President in December 2016, taking on the place of leader director. From 2008 to 2017, Schultz regulated almost $100 billion added to the organization’s market capitalization. From the 1980s to his retirement, a progression of espresso wars expanded Starbucks from 11 cafés in Seattle to 28,000 stores in 77 nations.
Howard Schultz Books
♦ 1997 – Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time
♦ 2011 – Onward: How Starbucks Fought for Its Life without Losing Its Soul
♦ 2014 – For Love of Country: What Our Veterans Can Teach Us About Citizenship, Heroism, and Sacrifice
♦ 2019 – From the Ground Up: A Journey to Reimagine the Promise of America