Majorca Daily Bulletin reporter22/08/2022 11:16
TW
2

A yacht owned by the Chief Executive of Starbucks, Howard Schultz, has been causing a sensation in Mallorca, mooring up at Puerto Portals. The superyacht, Pi, can cater for up to 12 guests in six luxury yachts. Her features include beauty salon, beach club, WiFi and air conditioning.

Schultz was named the 209th-richest person in the U.S. in October 2020 by Forbes with a net worth of $4.3 billion. His exploration of running for political office has prompted calls for him to sell all of his stock holdings in Starbucks to appease any conflict of interest.

Schultz began working at the coffeehouse Starbucks in 1982. He later left and opened Il Giornale, a specialty coffeeshop, that merged with Starbucks during the late-1980s.

Under Schultz, the company established a large network of stores which has influenced coffee culture in Seattle, the U.S., and internationally. Following large-scale distribution deals Starbucks became the largest coffee-house chain in the world. Schultz took the company public in 1992 and used a $271 million valuation to double their store count in a series of highly publicized coffee wars. He stepped down as CEO in 2000, succeeded by Orin Smith.