Howard Schultz Moves to Miami as Washington Advances Millionaire Tax
Former Starbucks CEO Howard Schultz moved to Miami as Washington lawmakers approved a proposed 9.9% tax on income above $1 million, sending the measure to the state Senate.
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Overview
Howard Schultz said in a LinkedIn post that he and his wife have moved from Seattle to Miami after more than four decades in the city.
The announcement coincided with the Washington state House approving a proposed 9.9% tax on household income above $1 million, which now heads to the state Senate, according to reports.
Gov. Bob Ferguson endorsed the wealth tax in December and said he would sign it if the legislature sends it before adjournment, while Schultz said his family office will be in Miami and his foundation will remain in Seattle.
Reports value Schultz at roughly $3.5 to $6.6 billion, say he paid about $44 million for a 5,500-square-foot Surfside penthouse, and the House passed the bill by a 51-46 vote.
The tax measure must still clear the state Senate and be signed by the governor, and some reports say the tax would apply beginning in 2028 with first payments due in 2029.
Analysis
Center-leaning sources frame this as wealthy flight to low-tax Florida by using vivid, loaded language ("bite the West Coast dust", "latest billionaire to move"), linking Schultz’s relocation directly to a millionaire tax, amplifying property-sale examples and pro-market realtor quotes, while omitting tax-policy perspectives or motives that would complicate a tax-driven narrative.
FAQ
The Washington state House approved a 9.9% tax on household income above $1 million, which now heads to the state Senate for approval.[1]
Schultz stated he and his wife moved to Miami to enjoy the sunshine of South Florida and its proximity to their kids on the East Coast raising families.[1]
He purchased a 5,500-square-foot penthouse in Surfside for about $44 million at the Surf Club, Four Seasons Private Residences.[3]
The bill passed the House by a 51-46 vote and awaits Senate approval and Governor Bob Ferguson's signature; it would apply starting in 2028 with payments due in 2029.[1]
The Schultz Family Foundation will remain headquartered in Seattle, overseen by Vivek Varma, while his family office moves to Miami.[2]
