Howard Schultz
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| Howard Schultz | |
 Howard Schultz in Vancouver on March 1st, 2007
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| Born | July 19, 1953 Brooklyn, New York, U.S. |
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| Occupation | Chairman and CEO, Starbucks |
| Salary | US$ 4,798,745 [1] |
| Net worth | ▲ $1.1 Billion |
| Religious beliefs | Jewish |
| Spouse | Sheri Kersch Schultz |
| Children | 2 |
| Website Starbucks |
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Howard Schultz (b. July 19, 1953) is an American businessman and entrepreneur most widely known as the chairman and CEO [2] of Starbucks and a former owner of the Seattle SuperSonics, which he sold to Oklahoma businessman Clayton Bennett. Howard Schultz co-founded Maveron, his investment group, in 1998 with Dan Levitan.
Schultz grew up in a subsidized public housing project (Bay View Houses) in the Canarsie section of Brooklyn, New York. He attended Canarsie High School and is the eldest of three children. He has a sister, Ronnie (b. 1956) and a brother Michael (b. 1961), who both live in New York. His mother lives in New Jersey and his father, of whom he often speaks in his interviews, is deceased. He is a father of two and currently lives in Seattle with his wife. He owns an apartment on the upper east side section of Manhattan and a house in East Hampton, N.Y.
In 1975, he became the first of his family to graduate from college when he earned his bachelor's degree in communications from Northern Michigan University, which he attended on a football scholarship. He is a member of the Theta Iota chapter of Tau Kappa Epsilon.
In 1982, he joined Starbucks Coffee Company in Seattle as the Director of Marketing. After a business trip to Milan, Italy, he tried to get ownership (including Gerry Baldwin) to offer traditional espresso beverages in addition to the whole bean coffee, leaf teas and spices they had long offered. After a successful pilot of the cafe concept, the owners refused to roll it out company-wide and Howard Schultz started his own coffee shop named Il Giornale in 1985. Two years later, the original Starbucks management decided to focus on Peet's Coffee & Tea and sold its Starbucks retail unit to Schultz and Il Giornale.
Schultz renamed Il Giornale with the Starbucks name and aggressively expanded Starbucks' reach across the United States. It can be said that Starbucks popularized espresso drinks such as the cafe latte to many Americans who had previously only ever tasted freeze dried coffee.
Schultz co-authored a book called Pour Your Heart into It that expounds on his life journey with Starbucks. This book is also published in Turkish by Babıali Kültür Yayıncılığı as Gönlünü İşe Vermek.
Schultz is also the former owner of the NBA's Seattle Supersonics. On July 17, 2006, it was announced that Schultz sold the team to a group of businessmen from Oklahoma City for $350 million. It is speculated that the new owners will move the team to Oklahoma City some time after the 2006-2007 NBA season[3]. This sale was seen by many as very disappointing as Schultz had often claimed that he wished to save basketball in Seattle.
He also owned the WNBA's Seattle Storm, and is a significant stakeholder in Jamba Juice.
In 2006, Forbes Magazine ranked Schultz as the 354th richest person in the United States, with a net worth of $1.1 billion dollars.
On March 29, 2007, Schultz accepted the Rev. Theodore M. Hesburgh, C.S.C., Award for Ethics in Business at the Mendoza College of Business at the University of Notre Dame. The same night, he delivered the Frank Cahill Lecture in Business Ethics.
On January 8th, 2008 Howard Schultz regained his status as CEO of Starbucks after a hiatus of 8 years[1].
In April 2008 Howard Schultz hired a lawyer and filed a lawsuit against Sonics chairman Clay Bennett to rescind the July 2006 sale based on fraud and intentional misrepresentation. When Bennett purchased the Sonics and its sister franchise in the WNBA, the Storm, for $350 million, he agreed to a stipulation that he would make a "good-faith best effort" for 1 year to keep both teams in Seattle. He has since sold the Storm to four Seattle women who will keep the team in Seattle. [2].
He owns a $35 million dollar townhouse in New York City, and a beach house in the Hamptons.
[edit] References
- ^ Howard Schultz Profile. Forbes.com. Accessed 2/28/07.
- ^ Franchisebusiness.com. URL last accessed August 16, 2007.
- ^ seattletimes.nwsource.com. URL last accessed July 18, 2006.
Schultz, Howard and Yang, Dori Jones. "Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time". Hyperion, 1999[3].
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