Starbucks Founder Moves to Florida

Why it matters

Schultz and his wife reportedly purchased a $44 million penthouse in Surfside, Florida. He cited Florida's sunshine and its appeal to his East Coast-based children and families as reasons for the move. The move coincides with Washington state's approval of a 9.9% tax on income above $1 million. The tax, set to take effect in 2028, aims to fund education, childcare, and social programs. Critics fear it will drive high-income earners and businesses out of the state. Starbucks is also expanding its corporate presence in Nashville, Tennessee, opening an office to support its growth in the Southeast. The company will relocate its supply chain teams to Nashville, while Seattle will remain its North American and global support headquarters. Starbucks aims to add 5,000 more locations in the U.S., viewing Nashville as a strategic hub. Washington's new tax policies have already led some businesses to relocate. A Redmond online marketing company closed down, citing the state's new $9 billion tax package. Seattle is also facing a payroll tax deficit as major corporations move jobs to neighboring cities.

Key numbers

• Starbucks founder Howard Schultz is relocating to Florida amid Washington's new 9.9% millionaire tax, with HQ eyeing Tennessee.
• Schultz and his wife reportedly purchased a $44 million penthouse in Surfside, Florida.
• The move coincides with Washington state's approval of a 9.9% tax on income above $1 million.
• The tax, set to take effect in 2028, aims to fund education, childcare, and social programs.

What happens next

• The tax, set to take effect in 2028, aims to fund education, childcare, and social programs.
• Critics fear it will drive high-income earners and businesses out of the state.
• The company will relocate its supply chain teams to Nashville, while Seattle will remain its North American and global support headquarters.

Sources

• is relocating

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