Howard Schultz, the billionaire founder of Starbucks, announced that he and his wife, Sheri Schultz, are leaving their longtime home in Seattle and relocating to Miami, Florida, as they enter what they describe as the “retirement phase” of their lives.
In a statement shared on LinkedIn, the couple said they have been traveling extensively over the past year and are now settling in South Florida for their next chapter.
“For those of you who know us well, we have entered the ‘retirement’ phase of our lives,” the pair wrote. “Last year we traveled to dozens of places around the world — places we were too busy to see when building Starbucks and raising kids. And we have moved to Miami for our next adventure together.”
The Schultzes said they are enjoying the climate and proximity to family members living along the East Coast.
“We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own,” they added.
The announcement came the same day the Washington State House of Representatives passed a proposal commonly referred to as a “millionaires tax,” which would apply to individuals earning more than $1 million annually in Washington. The measure has been part of an ongoing debate in the state about tax policy and how to fund public programs.
Florida, where the Schultzes are relocating, is among several states that do not impose a personal state income tax.
In their statement, the couple reflected on their decades in Seattle, where Starbucks was founded and grew into a global brand.
“Over the years, as Sheri and I grew our family and built Starbucks globally, we were witness to the astonishing development of Seattle,” they wrote. “We focused on doing our part to help those at risk and facing hard times in our city.”
The couple also highlighted the philanthropic work of the Schultz Family Foundation, which Sheri Schultz launched in 1990. The foundation focuses on community initiatives and programs to support vulnerable populations.
They said the foundation will continue operating in Seattle even as their private family office moves to Florida. Leadership of the organization has been handed to Vivek Varma, whom the Schultzes described as a longtime friend.
“We have entrusted the leadership of the Foundation to our dear friend Vivek Varma with a mandate to accelerate our philanthropic investments to drive meaningful change,” the statement said.
Schultz, whose net worth has been estimated at about $3.5 billion, concluded the message by expressing gratitude to the city where he built the company.
“We will be forever grateful for the memories made in Seattle and the relationships built along the way,” he wrote. “To the family, friends and partners who made Seattle our home for so many years, thank you. Onward.”
The move comes as Starbucks has also begun shifting some corporate operations to Nashville, Tennessee, a state that also does not impose a personal income tax and offers a different corporate tax environment than Washington.
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John Kennedy here. The last fundraising deadline passed — and we came up short. Now the woke crowd is celebrating, saying “Kennedy’s finished.” Let’s prove them wrong. Chip in $25, $50, or whatever you can to close the gap and keep fighting.
smart move financially, just do not bring your liberal LEFTIST proclivities to South FLA, thankyouverymuch.
I can well recall Howard Schultz and his far-left radical views, which he thrust upon Seattle and Starbucks before his removal. It is scary to see more and more of these socialist types taking up residence in Florida. Can what they did to Washington state and California be that far behind or have they learned their lesson?