Howard Schultz assumed control of Starbucks in the 1980s, transforming a regional coffee company into one of the world's leading brands. Under Schultz's leadership, Starbucks grew from 11 stores to over 35,000 globally, becoming a social hub for many Americans. Schultz served as the CEO thrice, with his most recent term ending in early 2023. Schultz's philanthropic efforts include the Schultz Family Foundation, which invests in the training and hiring of veterans and young people to assist veterans in smoothly transitioning back to civilian life. Additionally, Schultz, through his venture capital firm Maveron Capital, invests in various consumer businesses including Groupon, Madison Reed, Allbirds, and Lucy.
Howard Schultz, the son of a blue-collar worker, was born in New York and grew up in federally subsidized housing. Despite the hardships he faced, including his father's physical abuse and financial struggles after his father's workplace injury, Schultz always held a resolve to not leave people behind.
Schultz's academic achievement was his first step towards success. He attended Northern Michigan University on a full football scholarship and was the first person in his family to graduate college. Prior to Starbucks, Schultz worked in sales and marketing at Xerox and served as the Vice President and General Manager of Hammarplast U.S.A.
In 1982, Schultz moved to Seattle to join Starbucks as director of operations and marketing. A year later, he was inspired by Italian espresso bars and left Starbucks to start his own company, Il Giornale coffeehouses. In 1987, Schultz returned to Starbucks, bought the company and took over as CEO.
Under Schultz's leadership, Starbucks saw tremendous growth and remained socially conscious. He introduced health insurance for eligible workers and started offering company stock, making employees partners in the company. However, his tenure as CEO was not without controversy, including the "Race Together" initiative in 2015 and the 2018 incident involving racial bias at a Philadelphia Starbucks.
Schultz is recognized as the driving force behind Starbucks’ success and its evolution into a global brand. He has received numerous awards and is also a best-selling author. His next book, “From the Ground Up: A Journey to Reimagine the Promise of America” was released recently and there are speculations of him running for president.
As Schultz announced his departure from Starbucks, he reflected on his humble beginnings and his journey. Despite his success, he maintains his connection to his difficult upbringing, stating he still feels like a kid from Brooklyn who grew up in public housing. He considers himself as someone who is living the American Dream and continues to dream for the company and its employees.
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