Howard Schultz and Wife Moving to Florida
Howard Schultz, the founder of Starbucks, announced that he and his wife will leave Seattle for Florida. This decision follows the introduction of a billionaire tax by the Washington state legislature and coincides with the coffee company’s new office opening in Nashville, Tennessee.
“As many of you know, we’ve entered a retirement phase of our lives,” Howard Schultz shared in a LinkedIn post, also mentioning his wife Sheri.
“Last year, we visited numerous places worldwide—spots we hadn’t seen because we were so busy building Starbucks or raising our family—and now we’re moving to Miami for our next chapter,” they added.
At 72, Schultz expressed his enjoyment of South Florida’s sunny weather, noting its attraction for their children who live on the East Coast.
“We hope that Washington continues to foster an environment where business and entrepreneurship can thrive, providing vital opportunities for those in Seattle and nearby areas,” they reflected.
Schultz remarked that, over the years, he and Sheri have witnessed Seattle’s remarkable expansion while focusing on helping those who face challenges in the city.
He stated, “In 1990, Sheri founded the Schulz Family Foundation, which has significantly impacted our community and beyond over the years.” They now entrust the foundation’s leadership to their friend Vivek Varma, aiming to enhance philanthropic efforts.
“Although our private family office will move to Miami, our foundation will still function in Seattle,” they emphasized.
Schultz expressed gratitude for his memories and relationships in Seattle, thanking family, friends, and partners for making it a home.
As for his wealth, Schultz is estimated to be worth $3.5 billion. This announcement comes as Washington’s “millionaire tax” takes effect, targeting those with annual incomes exceeding $1 million.
Their chosen new home in Florida is in one of the nine states that do not have a personal income tax, which is noteworthy. It’s also worth mentioning that Starbucks has begun relocating some corporate operations to Tennessee, another state without personal income tax. This decision aligns with the more favorable corporate tax structures found in red states compared to blue state Washington.
