Business, Politics, Sports

How rich is Howard Schultz?

Name: Howard Schultz

Born: July 19, 1953

Occupation: Executive

Howard Schultz, fair use
Howard Schultz, fair use

Howard Schultz was born in New York City, New York on July 19, 1963. He is the son of Fred Schultz, a truck driver and former U.S. Army trooper, and Elaine Lederman. He has two siblings: Michael and Ronnie.

Howard attended Canarsie High School and, when he was awarded an athletic scholarship, he studied at Northern Michigan University, earning a bachelor’s degree in speech communication.

He has been married to Sheri Kersch since 1982 and the couple has two children, Jordan and Addison.

When he finished college, Howard was hired as a Xerox Corporation salesman. He used the experience to become a general manager for Hammarplast, quickly becoming promoted to head the U.S. operations.

Impressed by the coffee industry in Milan, Italy, he worked hard to create the Starbucks brand, raising $400,000 to open his first store. By 1992, Starbucks had its initial public offering, and the company was a success. He stepped down from his executive position in 2000, but Howard returned eight years later amid declining same-store sales and a slumping stock. He overhauled the business: hired a Chief Technology Officer, retrained employees to make espresso, shut down weak stores, fired executives, and introduced the Starbucks Reward Card.

In June 2018, Howard stepped down from Starbucks to work in the public sector.

He would also become a board member of Square, but stepped down in November 2013.

Howard followed his childhood passion of sports by purchasing the Seattle SuperSonics and the Seattle Storm. After several public fallouts, a disappointing performance, and harsh criticism for treating the teams like a business, the teams were sold and left the city and went to Oklahoma City.

He has published three books: “Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time,” “Onward: How Starbucks Fought for Its Life Without Losing Its Soul,” and “For Love of Country.”

Many political analysts believe that Howard is gearing up for a presidential run in 2020, seeking the nomination of the Democratic Party. If he should win the nomination, it would be two billionaire businessmen facing off in 2020, the other being President Donald Trump. He is considered to be a progressive, but since flirting with politics, he has ventured a bit towards the center, complaining about the national debt and accusing the Democrats of being too far left.

We estimate that Howard Schultz’s net worth is: $2.8 billion

So how much is $2.8 billion really?

$2.8 billion can purchase millions of cups of Starbucks coffee. $2.8 billion can also buy hundreds of Starbucks locations around the world.


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