Howard D. Schultz
(born July 19, 1953) is an American businessman. He is best known as the chairman and CEO of Starbucks and a former owner of the Seattle SuperSonics. He was a member of the Board of Directors at Square, Inc..
In 1998, Schultz co-founded Maveron, an investment group, with Dan Levitan.
In 2012, Forbes magazine ranked Schultz as the 354th richest person in the United States, with a net worth of $1.5 billion.
Early life and education
Howard D. Schultz was born to a Jewish family on July 19, 1953 in Brooklyn, New York, the son of ex-United States Army trooper and then truck driver Fred Schultz, and his wife Elaine. With his younger sister, Ronnie, and brother, Michael, he grew up in the Canarsie Bayview Houses of the New York City Housing Authority. As Schultz's family was poor, he saw an escape in sports such as baseball, football, and basketball. He went to Canarsie High School, from which he graduated in 1971. In high school, Schultz excelled at sports and was awarded an athletic scholarship to Northern Michigan University On a buying trip to Milan, Italy for Starbucks, Schultz noted that coffee bars existed on practically every street. He learned that they not only served excellent espresso, they also served as meeting places or public squares; they were a big part of Italy's societal glue, and there were 200,000 of them in the country.
On his return, he tried to persuade the owners (including Jerry Baldwin) to offer traditional espresso beverages in addition to the whole bean coffee, leaf teas and spices they had long offered. After a successful pilot of the cafe concept, the owners refused to roll it out company-wide, saying they didn't want to get into the restaurant business. Frustrated, Schultz decided to leave Starbucks in 1985. He needed $400,000 to open the first store and started the business. He simply did not have the money and his wife was pregnant with the first baby. Jerry Baldwin and Gordon Bowker offered to help. Schultz also received $100,000 from a doctor who was impressed by Schultz’s energy to “take a gamble”. By 1986, he raised all the money he needed to open the first store 'Il Giornale' after the Milanese newspaper
Source @ Wikipedia