Another West Coast billionaire has spent another colossal sum for a grand Florida home — but this time he isn’t moving from California.
The Wall Street Journal reports that Howard Schultz, the former chairman and CEO of Seattle coffee giant Starbucks, has splashed out $44 million for a penthouse at the Surf Club, Four Seasons Private Residences in Surfside — a luxury oceanside development north of Miami Beach that debuted nearly a decade ago.
He and his wife, Sheri, will have a roughly 5,500-square-foot aerie with five bedrooms and an ocean view. The unit listed in late 2024 for $55 million, according to Zillow, and lowered its asking price to $49.9 million in late 2025.
The pair have lived in the Seattle area for more than 44 years. Now, they’ll have some prominent Florida neighbors. In 2025, tech entrepreneur Daniel Nadler spent $38.2 million in cash for a fully furnished penthouse at the development.
Schultz’s purchase coincides with his Tuesday LinkedIn announcement saying he’s leaving Seattle for Florida, as Washington State Democrats have been pushing for a “millionaires’ tax.” There, lawmakers are forging ahead with a plan to levy a nearly 10% tax on household incomes north of $1 million beginning in 2029.
Schultz, whose net worth is around $3.5 billion, made no mention of that proposal in his post — though he did make a nod to the state’s overall business climate.
“It is our hope that Washington will remain a place for business and entrepreneurship to thrive, creating essential opportunity for those in Seattle and the surrounding areas,” he wrote.
Now, the Schultzes join California billionaires — such as Mark Zuckerberg, Sergey Brin and Larry Page — in Florida as they flee the Golden State amid a looming tax on billionaires.
His Tuesday post also offered more personal reasons for the cross-country move.
“For those of you who know us well, we have entered the ‘retirement’ phase of our lives,” he said.
“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.”
