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Former Starbucks CEO Howard Schultz leaves Seattle as local lawmakers mull millionaire tax
Howard Schultz and his wife relocate to Miami amid Washington’s new 9.9% tax on income over $1 million, joining other wealthy individuals moving for favorable tax conditions.
- Tuesday's LinkedIn post by Howard Schultz, the former Starbucks CEO, said he and his wife Sheri are moving from Seattle to Miami for their next adventure together.
- Washington lawmakers advanced Senate Bill 6346, proposing a 9.9% tax on income over $1 million, now heading to the Senate for approval.
- Schultz, whom Bloomberg Billionaires Index values at $6.6 billion, paid about $44 million for a 5,500-square-foot penthouse at the Surf Club, Four Seasons Private Residences in Surfside, Florida.
- The timing of Schultz's move came hours after the Washington state House advanced Senate Bill 6346, fueling scrutiny as supporters say it would generate $3.5 billion annually and expand the Working Families Tax Credit to roughly 460,000 households.
- Starbucks will keep its Seattle headquarters but earlier this month announced a new Nashville, Tennessee office; Schultz said his family office will relocate to Miami while the Schultz Family Foundation stays in Seattle.
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Billionaire former head of Starbucks abandoning Seattle as state Democrats push millionaire tax
A movement in Washington state to pass a new tax on millionaires may have persuaded billionaire Howard Schultz to abandon his decades-long residence in Seattle.Schultz has lived in Seattle for four decades and headed the Starbucks corporation as it grew into a global brand.'We will be forever grateful for the memories made in Seattle and the relationships built along the way.'On Tuesday Schultz posted an announcement on LinkedIn that he was leav…
·Houston, United States
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Total News Sources23
Leaning Left3Leaning Right10Center6Last UpdatedBias Distribution53% Right
Bias Distribution
- 53% of the sources lean Right
53% Right
L 16%
C 31%
R 53%
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