Howard Schultz, who purchased the company in 1987, said he and his wife have moved to Miami, Florida.
Howard Schultz, who purchased the company in 1987 and helped expand it into the globally recognized chain it is today, made the announcement in a post to LinkedIn on Tuesday, writing that he and his wife Sheri had moved to Miami “for our next adventure together.
”Schultz said the decision was motivated by the appeal of Miami to him and his family—“the sunshine of South Florida”—rather than any recent legislative changes. However, the timing of the announcement, coming as the stateSchultz served as the company’s CEO in three separate stints, the latest of which ended in 2023, and boasts a net worth of $3.5 billion according to the latestTennessee, like Florida, generally has a lower and more favorable tax regime for wealthy individuals—and in many cases corporations— And while Washington is one of several states that does not currently impose a personal income tax, the changes now being advanced would mean a 9.9 percent tax on annual income over $1 million. Senate Bill 6346 would also direct some of the new revenue—around $3.5 billion annually per some projections—toward cutting otherThe bill must now return to the Senate, also controlled by Democrats, for approval of the changes before being sent to Democratic Governor Bob Ferguson, who“Like many other Seattle-based companies, Starbucks today stands on the shoulders of the many Pacific Northwesterners who built the company. They helped shape the culture, the benefits and the brand, contributing to the civic, community and public life of the city and state. It is our hope that Washington will remain a place for business and entrepreneurship to thrive, creating essential opportunity for those in Seattle and the surrounding areas.”’ Tax passed by the House represents historic progress in rebalancing our unfair system. It sends significant dollars back to Washington families and small
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