SURFSIDE, Fla. — Miami-Dade County’s Surfside residents have a new billionaire neighbor on Collins Avenue.
Howard Schultz paid $44 million for a penthouse at the Surf Club, Four Seasons Private Residences at 9011 Collins Ave., the Wall Street Journal reported on Wednesday.
Schultz, 72, the former chairman and chief executive of Starbucks, had announced on Tuesday that he was moving from Seattle to South Florida.
In a post on Linkedin, Schultz wrote that he and his wife Sheri Schultz made the cross-country trip from New York City to Seattle in their 1979 Audi.
“We were starting a new life. Sheri would be the breadwinner in the family, taking on a career in design. And I started a new job on September 7, 1982, at a place called Starbucks,” Schultz wrote.
In retirement, Schultz, who has an estimated net worth of $3.5 billion, wrote that they have traveled to dozens of places around the world, entrusted the Schultz Family Foundation to Vivek Varma, and moved to Miami.
“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 ... While our private family office will move to Miami, our Foundation will continue operations in Seattle,” Schultz wrote.
Washington state lawmakers are working to pass legislation to implement a 9.9% tax on annual income over $1 million.
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