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Howard Schultz Moves to Miami Amid Starbucks Expansion

3/11/2026

26 4 Full Breakdown

Summary

Story summary

Howard Schultz, former CEO of Starbucks, announced his relocation to Miami after more than 40 years in Seattle.
Washington state enacted a 9.9% income tax on households earning over $1 million annually, prompting critics to warn of capital flight.
Starbucks is expanding operations to Nashville, signaling a shift in its corporate footprint.
The Schultz Family Foundation will continue its work in Seattle.

History

Historical Context

In 2022, Washington state enacted a 9.9% income tax on households earning over $1 million, marking a significant shift in its tax policy, as it previously had no personal income tax. This move aimed to combat wealth inequality but raised concerns among businesses like Starbucks about potential capital flight, reflecting a broader trend of corporate migration influenced by tax policies.

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Story summary

Howard Schultz, former CEO of Starbucks, announced his relocation to Miami after more than 40 years in Seattle.
Washington state enacted a 9.9% income tax on households earning over $1 million annually, prompting critics to warn of capital flight.
Starbucks is expanding operations to Nashville, signaling a shift in its corporate footprint.
The Schultz Family Foundation will continue its work in Seattle.

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