Howard Schultz Net Worth Income Profile and Salary. American businessman, president and CEO of Starbucks Coffee Company, a franchise with a particular business philosophy that has more than 10,000 establishments around the world. Howard Schultz was the eldest of three siblings of a lower middle-class family. He studied at Canarsie High School and, with a great financial effort by his parents, he graduated in communications from Northern Michigan University (1975). Soon after finishing his studies, he began his professional career as an apprentice in the sales department of Xerox. He later joined Hammarsplast, a subsidiary of Swedish subsidiary Perstorp, which would become vice president.
Starbucks was born in 1971 in the historic Pike Place Market in Seattle, Washington, as a small import coffee shop, a difficult business in a country not accustomed to consuming this product. The name, derived from Herman Melville’s novel Mobby Dick, evoked the romantic aspect of the sea and the maritime tradition.
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In 1982 Howard Schultz joined the business as marketing director, and that same year, during a trip to Italy, he discovered the famous espresso and, above all, the cultural fabric that, with several centuries of history, surrounded the consumption of coffee in The Old Continent.
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His idea was to reproduce it in the United States. “My conclusion was that not only would we serve coffees, but we would create an environment in which the intimacy of the relationship with space and the coffee experience could come to life,” he said in his autobiography. But he did not have it easy, and his attempt did not convince his superiors. Finally, in 1987 he persuaded several investors to buy the company for $ 3.8 million.
By radically transforming Seattle’s store, Schultz laid the foundation for what would soon become an empire. On the one hand, it incorporated a series of products more to the taste of the European tradition (capuchins, mocas, lattes, macchiatos) and, on the other hand, it gave to the local one of own identity. Thus, he thought and designed an interior that captivated the public by its proximity and its sense of “second home”. The decoration, the furniture, the color, even the music, had the function of making a simple cafeteria a place where people felt at home. The success of the model created by Schultz did not wait.
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Seattle quickly accepted the idea pushed by Schultz, who very soon began to expand the business to several cities in the United States. Within a few years, the promotion of the Melusina brand, which would go public in 1992, would be unstoppable and would start its international assault. The first Starbucks coffee shop outside the United States would open in Tokyo in 1996.
In 2007, Starbucks was one of the world’s leading suppliers and roasters, offering coffee in Latin America, Africa and Asia-Pacific, with more than 10,000 establishments around the globe (North America, Latin America, Europe, Middle East, Asia And Pacific) and had more than 140,000 employees on the payroll. Its turnover exceeded 9,400 million dollars. In 2008 the Starbucks logo was intended to be extended to new markets: Argentina, Bulgaria, Colombia, Hungary, India, Morocco, Poland, Portugal, Serbia and South Africa.
A delicate case in the expansion of Starbucks was China, where the brand opened its first franchise in 1999 in Beijing. In 2000 Starbucks opened a new facility, this time in the Forbidden City, which provoked protests from various institutions in the country that did not consider it appropriate for an icon of American society to be located in that sacred place for Chinese culture. Finally, the pressure was stronger and the cafeteria of the Forbidden City had to close its doors in 2007.
If something characterized the company of Schultz, apart from the passion for coffee, was social responsibility, one of its main premises. Starbucks was leading important initiatives to help improve the lives of coffee suppliers and protect the environment from growing areas. In this sense, in 1992 it presented the Environmental Mission Statement, which established its commitment to an environmental leadership role in all facets of the business: “Our commitment is to offer customers high quality coffee while contributing to the Development of those coffee producing areas where we work. Part of our income goes to social and environmental projects in these communities. ”
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Net Worth of Howard Schultz
The Net Worth of Howard Schultz in 2017 is 3.31$ Billion
|Full Name||Howard Schultz|
|Net Worth||$3.31 Billion|
|Profession||CEO of Starbucks|
|Annual Income||$200 Million|
Starbucks has been recognized by Fortune magazine as one of the “100 Best Companies to Work For” eight times. In Spain, where it employed more than 800 people in 2008, it ranked as one of the 30 best companies to work on in the Great Place to Work report in 2008. In January 2008, Schultz, who in 2000 had decided to leave the post Of CEO to assume a role from the rear like president, decided to return to the leadership role in front of the mark before the announcement of the entrance in the sector of McDonald’s and Dunkin Coffee. Its objective was to stabilize the company in times of turmoil marked by the mortgage crisis in the United States and by the increase of coffee, its main raw material.
Howard Schultz, whose personal fortune is worth 6,000 million euros, is married to interior designer Sheri Kersch, his partner since 1978. They have two children. Although he owns several houses, his habitual residence is in Seattle. Amateur basketball, he owned the Seattle SuperSonics. In 2001 he published the autobiographical book Put Your Heart In It.