From Realtor.com, Former Starbucks CEO Howard Schultz Quits Seattle and Moves to Florida - After ‘Spending $44 Million’ on Miami Penthouse

Billionaire and former Starbucks CEO Howard Schultz has reportedly purchased a sprawling Florida penthouse for $44 million, marking a permanent departure from his longtime base in Seattle in favor of South Florida.

The timing was striking. Schultz made his announcement on the same day the Washington State House approved a proposed income tax bill that would affect residents earning $1 million or more per year.

The bill now moves to the Senate and would impose a 9.9% tax on annual income above $1 million for the state’s highest earners. According to Axios, it passed the House by a narrow 51-46 vote after a 13-hour debate.

Schultz, 72, did not reference the proposed tax when he shared news of his move in a LinkedIn post published on March 10, the same day he is said to have closed on the purchase of a grand residence in an oceanfront building in the upscale Miami-area community of Surfside.

The Wall Street Journal reported that Schultz and his wife, Sheri, purchased a five-bedroom unit at the Surf Club, Four Seasons Private Residences, a luxury oceanfront property overlooking the Atlantic.

Despite the headline-grabbing price, Schultz and his wife appear to have acquired the penthouse at a discount compared with its original asking price of $55 million when it was first listed in November 2024.

Property records show the ask was later reduced to $49.9 million in October 2025, roughly five months before the sale closed.

As the transaction was finalized, Schultz took to LinkedIn to announce that he and his wife had relocated to Florida after spending the past four decades in Seattle, where Starbucks is headquartered.

In his post, Schultz reflected on the time he and Sheri arrived in Seattle from New York City, traveling cross-country in their 1979 Audi with their Golden Retriever, Jonas. He also shared that when they first settled in Washington, his wife was initially the "breadwinner in the family."

"And I started a new job on September 7, 1982, at a place called Starbucks. Back then, the Pike Place Starbucks only sold whole bean coffee. Today, it’s the most visited Starbucks in the world," he wrote.

While emphasizing that he and his wife still feel a deep personal connection to Seattle, Schultz said they chose Florida as their new home because of its warm weather and its proximity to the East Coast, where their children live.

"For those of you who know us well, we have entered the 'retirement' phase of our lives. (A term we are both just getting used to)," he went on. "Last year we traveled to dozens of places around the world—places we were too busy to see when building Starbucks and raising kids.

And we have moved to Miami for our next adventure together. 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."

He also confirmed that the couple has moved their family office to Florida, while adding that the Schultz Family Foundation will remain headquartered in Seattle under the guidance of "our dear friend Vivek Varma."

"We will be forever grateful for the memories made in Seattle and the relationships built along the way. To the family, friends and partners who made Seattle our home for so many years, thank you," he concluded.

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