Schultz was named the 680th-richest person in the U.S. by Forbes with a net worth of $4.0 billion (April 2020). Schultz started the Schultz Family Foundation to help military veterans and fight youth unemployment.
Howard D. Schultz (born July 19, 1953) is an American businessman. He served as the chairman and chief executive officer (CEO) of the Starbucks Coffee Company from 1986 to 2000, and then again from 2008 to 2017. Schultz also owned the Seattle SuperSonics basketball team from 2001 to 2006.
Schultz began working at the coffeehouse Starbucks in 1982. He later left and opened Il Giornale, a specialty coffeeshop, that merged with Starbucks during the late-1980s. Under Schultz, the company established a large network of stores which has influenced coffee culture in Seattle, the U.S., and internationally. Following large-scale distribution deals Starbucks became the largest coffee-house chain in the world. Schultz took the company public in 1992 and used a $271 million valuation to double their store count in a series of highly publicized coffee wars. He stepped down as CEO in 2000, succeeded by Orin Smith.
During the 2008 financial crisis, Schultz returned as chief executive. Succeeding Jim Donald, Schultz led a mass-firing of executives and employees, and shuttered hundreds of stores. He orchestrated multiple acquisitions of American and Chinese beverage companies, introduced a national loyalty program, and enforced fair trade standards. His aggressive expansion in Chinese markets has been credited[by whom?] with reconciling the country's tea-culture with coffee consumption in China. Schultz was succeeded by Kevin Johnson as CEO in April 2017 and Myron Ullman as chairman in June 2018.
Schultz has written four books on buisness. He is an outspoken political centrist, Schultz publicly considered a candidacy in the 2012, 2016, and 2020 U.S. presidential elections as an independent candidate. He declined to join all three contests. His positions on domestic politics are socially liberal and fiscally moderate. In foreign policy, he is seen as a 'liberal hawk', favoring American-led international affairs and neoliberalism.