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Grizzly Bulls’ Billionaires Index

⬅ # 1086 Jin Baofang|# 1088 Steven Meng Yang ➡

# 1087 Howard Schultz 

$3.16B

Real Time Net Worth
as of 12/22/2024
-$8.5M (-0.27%)

# 1087 Howard Schultz 

$3.16B

Real Time Net Worth
as of 12/22/2024
-$8.5M (-0.27%)
OccupationFormer CEO, Starbucks
Source of WealthStarbucks
Age71
ResidenceSeattle, Washington
Marital StatusMarried
Children2
EducationBS, Northern Michigan University
Age-Adjusted Net Worth$1.50B
Howard Schultz
Howard Schultz
United States
Net worth: $3.16B

Self-Made Score 

TAG Heuer Formula 1 Watch

Wealth History

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Biography

Overview

Howard Schultz became wealthy through his leadership of Starbucks, transforming it from a regional coffee company to a global powerhouse with over 35,000 stores worldwide.
He served as CEO of Starbucks for three terms, overseeing significant expansions, acquisitions, and innovations.
Schultz is also known for his philanthropic efforts through the Schultz Family Foundation, focusing on supporting veterans and youth employment, and his investments via Maveron Capital in consumer businesses like Groupon and Allbirds.

Early Life and Education

Howard D. Schultz was born on July 19, 1953, in Brooklyn, New York, to Fred and Elaine Schultz.
He grew up in the Canarsie public housing projects and spent time at the Boys Club of New York.
Schultz graduated from Canarsie High School in 1971 and earned a B.A. in communications from Northern Michigan University in 1975.
During college, he was a member of the Tau Kappa Epsilon Fraternity.
After graduation, Schultz worked as a salesman for Xerox before joining a Swedish kitchenware manufacturer's U.S. subsidiary in 1979.

Starbucks

In 1982, Schultz joined Starbucks as the director of retail operations and marketing.
He was inspired to introduce espresso beverages to Starbucks after a trip to Milan, Italy, where he experienced Italian coffee culture.
After Starbucks declined to pursue his idea, Schultz started his own business, Il Giornale, with Starbucks eventually investing in his venture.
Schultz rebranded Il Giornale as Starbucks and expanded its reach across the United States, leading to significant growth and the company going public in 1992.
He stepped down as CEO in 2000 but returned in 2008 during the 2008 financial crisis, implementing various strategies to revive the company's performance.

Philanthropy and Investments

Schultz established the Schultz Family Foundation, focusing on supporting veterans' transitions to civilian life and combating youth unemployment.
Through his VC firm Maveron Capital, Schultz invests in various consumer businesses, including Groupon, Madison Reed, Allbirds, and Lucy.
He has written four books on business and has been publicly active in considering independent presidential bids in the 2012, 2016, and 2020 U.S. elections.
Schultz's political views are socially liberal and fiscally moderate, and he is known for his support of American-led international affairs and neoliberalism.
With a net worth of $4.3 billion as of October 2020, Schultz has been named one of the richest individuals in the U.S. by Forbes.

Seattle Supersonics

In 2001, Schultz led a group of investors to buy the NBA's Seattle SuperSonics and the WNBA's Seattle Storm.
During his ownership, he faced criticism for his management style, including his focus on running the franchise as a business rather than a sports team.
Schultz sold the SuperSonics to an Oklahoma City ownership group in 2006, leading to the team's relocation and subsequent controversy.
He later expressed regret over the sale, acknowledging its impact on the Seattle community and his professional life.
Schultz's popularity in Seattle was significantly affected by the sale, and he accepted responsibility for the team leaving the city.

Howard Schultz's Wealth is Equivalent to:

2,434,180 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

598,297 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

32,316 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Howard Schultz?

If you started with $10,000 and invested an additional $500 each month at a 42.82% CAGR, it would take you 5 years to reach Howard Schultz's net worth of $3.16B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 67.72% compared to 25.94% for the S&P 500 benchmark.

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Howard Schultz is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Howard Schultz, Starbucks is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey