"We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own. Schultz, who transformed Starbucks from a local coffee chain to a global retailer, stepped down as the company's CEO in 2023. Their nonprofit, the Schultz Family Foundation, will continue operating from Seattle, while his family office will relocate to Miami."
"Over the past few months, entities tied to Google cofounders Larry Page and Sergey Brin purchased homes in Miami, spending more than $180 million and $50 million, respectively. This month, Meta CEO Mark Zuckerberg broke Miami records by buying a home on Indian Creek for $170 million. The three centibillionaires purchased their homes amid a proposed wealth tax in California."
Howard Schultz, former Starbucks CEO with a net worth of $6.6 billion, announced his move from Seattle to Miami after 44 years. The announcement coincided with Washington's House passage of a millionaire's tax proposing 9.9% taxation on household income above $1 million. Schultz's family office will relocate to Miami while his nonprofit foundation remains in Seattle. His move follows similar relocations by tech billionaires including Google cofounders Larry Page and Sergey Brin, and Meta CEO Mark Zuckerberg, who purchased Miami properties amid California's proposed wealth tax targeting residents with net worth exceeding $1 billion. Luxury real estate prices in Miami neighborhoods have reached record levels.
Read at Business Insider
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