Former Starbucks chief executive Howard Schultz relocates from Seattle to Miami amid continued billionaire migration to Florida

Move announced as luxury residential market continues drawing high-net-worth relocations

Howard Schultz, the billionaire former chief executive officer who led Starbucks through multiple eras of growth, has relocated to Miami after decades in the Seattle area. Schultz confirmed the move in a public statement posted March 10, 2026, describing the relocation as a new chapter for him and his wife, Sheri, after 47 years in the region that became synonymous with Starbucks’ corporate identity.

The move aligns with a broader pattern of prominent wealth shifting toward Florida, where the concentration of ultra-luxury home purchases has risen over the past several years. In Schultz’s case, the relocation has been linked to a high-value residential acquisition: reports indicate he closed on a Miami-area penthouse priced at about $44 million within a Four Seasons-branded residential property near the oceanfront community of Surfside.

Schultz’s ties to Starbucks and Seattle span decades

Schultz, 72, served as Starbucks’ chief executive in three stints: from 1986 to 2000, from 2008 to 2017, and again as interim chief executive from 2022 to 2023. His leadership is widely associated with Starbucks’ transformation from a regional brand into a global chain and with the company’s long-standing headquarters presence in Seattle.

While Schultz is no longer an executive at Starbucks, his departure from Seattle is notable because of his long personal and professional connection to the city, as well as his profile as one of the most recognizable corporate leaders identified with the Pacific Northwest.

Miami’s record-setting high-end deals provide context

Schultz’s reported purchase comes amid record-setting South Florida transactions that have reset benchmarks for Miami-Dade County. A $120 million Star Island sale in 2025 established a county price record at the time. More recently, a home purchase reported at roughly $170 million on Indian Creek in early March 2026 was described as a new high-water mark for the county’s residential market.

Industry tracking has also pointed to elevated activity in the $10 million-and-up segment across South Florida, reflecting sustained demand for scarce trophy properties and a continued inflow of buyers with national and international footprints.

What is known, and what remains undisclosed

• Schultz stated he moved from the Seattle area to Miami and framed the decision as personal and forward-looking.

• Reports tied the move to a penthouse acquisition valued around $44 million in the Surfside area.

• Specific details typically central to such deals—financing structure, exact unit characteristics, and any related corporate or family-office plans—have not been publicly documented in a comprehensive way.

Schultz’s relocation adds another high-profile name to the growing list of business leaders establishing a primary presence in South Florida.

The long-term implications for Seattle’s business ecosystem, Miami’s ultra-luxury market, and Florida’s ongoing appeal to mobile wealth will depend on follow-on investment decisions and whether additional executives adopt similar relocation strategies in 2026.