Howard Schultz Net Worth – Salary, Income and Assets, Exposed!

Are you looking for the net worth of Howard Schultz? If yes, you have come to the right place.

Let’s take a close look at Howard Schultz and how he became so rich today.

What is Howard Schultz’s Net Worth?

Summary of Howard Schultz’s Net Worth

  • Net Worth: $4.1 Billion
  • Date of Birth: Jul 19, 1953
  • Gender: Male
  • Profession: Entrepreneur, Television producer, Screenwriter
  • Nationality: United States of America

With an estimated net worth of $4.1 billion, Howard Schultz is a successful entrepreneur. 

He is best known for his position as CEO of Starbucks from 1986 to 2000 and again from 2008 to 2017. He is a former owner of the Seattle SuperSonics and was a member of the board of directors of Square, Inc. In 1998, Schultz co-founded the investment group Maveron with Dan Levitan. Forbes ranked him the 232nd richest person in the United States in 2016, with a net worth of 3.1 billion as of April 2017.

Schultz stepped down as CEO of Starbucks and took over as CEO in April 2017. He was succeeded as CEO by Kevin Johnson. He retired as CEO in June 2018 and was named president emeritus. There was speculation that he had ambitions to be U.S. president in the 2020 election. 

In January 2019, this speculation increased, culminating on January 27 when he announced that he would explore a presidential run as an independent candidate.

Recommendation: Make Passive Income Online

Howard Schultz’s Early Life

Howard Schultz was born to a Jewish family on the 19th of July, 1953, in Brooklyn New York. He grew up in the Canarsie Bay View housing project. His mother was a receptionist while his father did all sorts of blue-collar jobs to fend for the family. 

In 1961, when Howard was seven years old, his father broke his ankle while working as a truck driver delivering and picking up diapers. At this time Fred (Howard’s father) didn’t have health insurance nor did he receive any compensation. 

Life that was already tough all of a sudden became worse. In order to escape the dire conditions of his home, Howard focused his energy on sports. 

He attended Canarsie High School where he participated in football, basketball and baseball, and excelled so excellently he was given an athletic scholarship to Northern Michigan University where he studied Communications. He was the first in his family to go to college.

Howard Schultz’s Career

After graduating in 1975, Howard got a job as a salesperson for Xerox Corporation and soon was promoted to a sales representative. After three years at Xerox Howard moved to Hammerplast, a housewares business owned by a Swedish company called Perstorp, where he became Vice President and General Manager leading a team of salespeople. 

In 1981, Howard flew to Seattle to visit a customer of Hammerplast who was ordering an unusually high number of Hammerplast’s espresso machines. Howard was curious as to why the company needed so many of these machines. 

On arriving in Seattle Howard met the three founders of Starbucks Coffee Company; English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker, who had met at college and decided to share their passion for coffee by opening Starbucks. 

At this time Starbucks only sold freshly roasted gourmet coffee beans as well as teas, spices and various coffee-making accessories. On speaking with them Howard was impressed by the founders’ knowledge and love for coffee and their determination and courage to sell a product to a dwindling number of consumers. Immediately, he was hooked. 

In an interview, Howard stated that he knew he was home once he stepped into the Starbuck store. After a year, Starbucks founders finally agreed to hire Howard to be their Director of sales and marketing. 

This appointment would mean that he (Howard) would move across the country and receive a significant pay cut, but he didn’t mind a bit. The following year, during a business visit to Milan, Italy, Howard discovered something that would revolutionize his career and the coffee culture in America forever. He discovered that coffee bars existed on virtually every street. 

These bars didn’t just serve espresso but they were a meeting point for people, either on business or pleasure. These coffee bars played an integral part in the social life of the Italian people. Howard thought to himself, “why not create something similar back home?” 

Immediately he returned to Seattle Howard shared his amazing find with the Starbucks founders, but they didn’t share his optimism. Although coffee beverage was served in Starbucks stores, it was only on customer demand and dispensed as free samples. 

But Howard was not a man to give up easily, he kept pestering the founders until they agreed to let him run a pilot process of his concept in one of the new Starbucks stores; it was a huge success. But still, the founders were not ready for that kind of expansion. 

They said they were not ready to go into the restaurant business and would rather stick to the store’s core offerings. Frustrated, Howard left Starbucks in 1985 to start his own business. In order to open his first store, Howard needed about $400,000, but he didn’t have such an amount, besides, his wife was pregnant, expecting their first child. 

In a strange twist of event, Jerry Baldwin and Gordon Bowker offered to help, and in 1986 he had raised all he needed for his business to open. He named it ‘Il Giornale’ meaning The Daily. It worked like magic, the store was a success; 300 people visited on its first day of business. 

A year later, the three Starbucks founders expressed interest in selling their stores. Their price was $4 million. Immediately, Howard began to source for the money, it was one great opportunity and he was not ready to let it slip away. 

After rounding a group of investors, Howard was able to purchase the Starbucks outlets for $3.8 million. He then went ahead to merge his ‘Il Giornale’ with his newly acquired outlets all under the Starbucks name. Immediately he was in charge, Howard began a series of reforms in the Starbucks chain; first was the introduction of coffee beverages such as espresso, cappuccino, café latte, iced coffee and café mocha. 

And then the transformation of the store’s interior, lighting it up so it could be more appealing to customers. The most important of the reforms was with his employees. He instituted several pieces of training to improve how his employees related to customers. 

When he was in Italy, Howard observed that baristas (experts in coffee preparation) knew their customers by name and knew their preferences. Howard knew what impact good customer relationships and service could have on sales, so he trained his employees to love their jobs. 

In order for them to fully love their jobs, Howard knew he had to treat his employees well. Starbucks offers its employees a complete healthcare package as well as stock options. As a result of Howard’s vision and business strategy, Starbucks experienced unprecedented growth throughout the 1990s, blossoming from 425 stores in 1994 to more than 2,200 stores in 1998. 

By 2012, Starbucks consisted of more than 17,600 stores in 39 countries around the world. In 2014, there were 20, 737 Starbucks stores opened in 62 countries. The company’s revenue in that same year was US$ 16.45 billion, net income – was US$ 2.07 billion. Howard does not believe in franchising and insists that Starbucks completely owns every domestic outlet. On the 26th of June, 1992 Starbucks went public. 

He is married to Sheri Kersch Schultz, an interior decorator. The couple has two children. Despite how phenomenal Howard’s success is, what he is most proud of is the type of company he had built. 

In an interview with Inc.com Howard explains, “My dad was a blue-collar worker, he didn’t have health insurance or benefits, and I saw firsthand the debilitating effect that had on him and on our family. I decided if I was ever in the position to make a contribution to others in that way, I would. My greatest success has been that I got to build the kind of company my father never got to work for.”

Recommendation: Make Passive Income Online

Howard Schultz’s Salary

Howard Schultz is rich, so you can assume that his salary is higher than that of an average person.

But he has not publicly disclosed his salary for privacy reasons. Therefore, we cannot give an accurate estimate of his salary.

Howard Schultz’s Income

Howard Schultz might have many sources of income such as investments, business and salary. His income fluctuates every year and depends on many economic factors.

We have tried to research, but we cannot find any verified information about his income.

Howard Schultz’s Assets

Given Howard Schultz’s estimated net worth, he should own some houses, cars, and stocks, but Howard Schultz has not publicly disclosed all of his assets. So we cannot get an accurate figure on his assets.

2 Success Lessons From Howard Schultz

1. Not everyone really wants to get BIG

Now this sounds funny, but it is as true as rain. Not everyone has the capacity to handle a really big company. Not everyone is willing to become really large. Some just want to maintain a small or medium sized business. It isn’t that these people don’t have ambitions, most times they believe the originality of what they are doing (be it a service or product) would be diluted by the massiveness of a large company.

The founders of Starbucks knew the potential of serving brewed coffee in their stores; Howard had conducted a successful pilot process of idea. But they just were not ready for that kind of success. The same can be seen in the Macdonald’s story.

If your dream is becoming really big, but you find yourself surrounded by people like Starbucks founders, then it would do you real good to excuse yourself from them. The fact that they are contented running 3 or 4 stores doesn’t mean you should be okay with it. Never let another man’s dream become your cage. You

have a right to dream your dream and see it come to fulfillment.

2. Impossible is nothing; anything is possible

Howard once said, “I cannot offer you any specific secret recipe for success, the perfect plan, how to reach the pinnacle of success in the business. But my own experience suggests that starting from scratch and achieving much more than what I dream about is quite possible”.

Don’t let anything stop you.

Howard Schultz Quotes

“Dream more than others think practical. Expect more than others think possible. Care more than others think wise.”

 

“You’ve got to be truthful. I don’t think you should be vulnerable every day, but there are moments where you’ve got to share your soul and conscience with people and show them who you are, and not be afraid of it.”

 

“Risk more than others think safe.”

 

“Authentic brands don’t emerge from marketing cubicles or advertising agencies.” 

 

“You can’t expect your employees to exceed the expectations of your customers if you don’t exceed your employee’s expectations of management.” 

 

“You have to know who you are and who you are not.”

 

“When you’re surrounded by people who share a passionate commitment around a common purpose, anything is possible.”

 

“We built the Starbucks brand first with our people, not with consumers. Because we believed the best way to meet and exceed the expectations of our customers was to hire and train great people, we invested in employees.”

 

“If people believe they share values with a company, they will stay loyal to the brand.”

 

“Hiring people is an art, not a science, and resumes can’t tell you whether someone will fit into a company’s culture.” 

 

“I can’t imagine a day without coffee. I can’t imagine.”

 

“In times of adversity and change, we really discover who we are and what we’re made of.”

 

“In life, you can blame a lot of people and you can wallow in self-pity, or you can pick yourself up and say, listen, I have to be responsible for myself.” 

 

“If you’re an entrepreneur, you’ve got to dream big and then dream bigger.” 

 

“Starbucks represents something beyond a cup of coffee.”

Recommendation: Make Passive Income Online

Related Lists of Celebrities’ Net Worth

Or, browse all celebrities’ net worth.

How To Become Rich Like Howard Schultz?

Howard Schultz did not become rich by luck. To become as rich as Howard Schultz, you have to work smart.

Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.

Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.

You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Howard Schultz one day.

Recommendation: Make Passive Income Online

Leave a Comment

COVID-19 Took My Waiter Job, Then I Made 5-Figures From Home...Discover How I Did It!