American businessman and author Howard D. Schultz was Starbucks’ chairman and CEO from 1986 to 2000, from 2008 to 2017, and as acting CEO since 2022. Schultz was born on July 19, 1953. From 2001 until 2006, Schultz also served as the owner of the Seattle SuperSonics basketball franchise.
Howard Schultz Biography And Net Worth
| Net Worth | $3.5 Billion |
| Birth Date | 19th July 1953 |
| Age | 69 |
| Profession | Entrepreneur Television producer |
| Spouse | Sheri Kersch |
Howard Schultz Early Life
Fred and Elaine Schultz, Ashkenazi Jews, welcomed Howard D. Schultz into the world on July 19, 1953, in Brooklyn, New York. Fred Schultz drove a truck. The two siblings of Howard. In the Canarsie public housing complexes, Schultz grew up. Schultz said that his family was underprivileged.
After school, Schultz spent his time at the Boys’ Club of New York. He also holds a “Lifetime Membership Card, which is a distinction we give to people we consider a significant member of our BCNY community” and is a member of the Boys’ Club of New York Alumni. In 1971, Schultz obtained his high school diploma from Canarsie. From 1971 to 1975, he studied at Northern Michigan University (NMU), where he earned a B.A. in communications.
Howard Schultz Early Career
Schultz remained in Michigan after receiving his degree and spent a year working at a ski lodge. After working as a salesperson for Xerox in New York City, he was hired in 1979 as general manager of Swedish cookware company PAI Partners’ American subsidiary, Hammarplast. Schultz oversaw Hammarplast’s American operations and went to the Starbucks Coffee Company in Seattle, Washington in 1981 to fulfill their orders for plastic cone filters.
- Starbucks
Schultz joined Starbucks as the head of marketing and retail operations in 1982 at the age of 29. After returning from a shopping vacation to Milan, Italy, the next year. He made an effort to convince Jerry Baldwin and Gordon Bowker, the proprietors of Starbucks, to start offering classic espresso drinks. Along with the tea leaves and whole bean coffee the business previously sold. However, they were unable to carry out their plan due to a number of financial and logistical issues.
Schultz focused on extending Starbucks’ footprint across the country once he took over the firm. Starbucks raised $271 million in its first public offering in the summer of 1992. Until 2000, Schultz served as the company’s CEO. Then, he resigned to take on the role of chief global strategist.
- Final Years as Starbucks CEO
Schultz once more resigned from his position as CEO of Starbucks in December 2016 and was appointed executive chairman. He announced his departure from the company’s active management a year and a half later. But in March 2022, Schultz came back as the company’s acting CEO when Kevin Johnson resigned.
- Basketball Team Ownership
Schultz has experience in the managerial realm of professional basketball in addition to his position at Starbucks. He oversaw a group of investors in the early 2001 acquisition of the Seattle Storm and Seattle SuperSonics of the WNBA. Schultz received a lot of flak for treating the organisation more like a company than a team while he was the owner of the previous squad. Early in 2006, he threatened to sell the SuperSonics if the Washington State Legislature would not support the rehabilitation of KeyArena or the construction of a new home for the club.
Howard Schultz’s Net Worth
American billionaire businessman Howard Schultz has a net worth of $3.5 billion. The chief executive officer of the coffee franchise Starbucks is how most people know Howard Schultz. He originally served in that role from 1986 to 2000, then once again from 2008 to 2017 and once more in an acting capacity in 2022.
