Starbucks Former CEO Schultz Becomes Latest Billionaire to Invest in Miami Real Estate

Source: Global Market Report

According to sources familiar with the matter, former Starbucks Chairman and CEO and billionaire Howard Schultz purchased a top-floor apartment at the Surf Club Four Seasons Private Residences in Surfside, Florida, for approximately $44 million.

This transaction coincides with Schultz’s announcement on Tuesday that he and his wife, Sheri Schultz, have relocated to Florida. In a statement on LinkedIn, he wrote, “We have moved to Miami to start the next chapter of our lives. We enjoy the sunshine of South Florida, and it’s convenient for us to be close to our children who are establishing their careers on the East Coast.”

According to real estate website Zillow, this ocean-view apartment was listed in November 2024 with an initial asking price of $55 million, later reduced to $49.9 million in October 2025.

Property details show the apartment spans approximately 5,500 square feet, with 5 bedrooms, a central courtyard, a spacious rooftop terrace, private garage parking, and a beachfront cabana. The listing agent is Ximena Penuela of Fort Realty.

Property records indicate that Stockbridge Holdings LLC purchased the top-floor unit in 2018 for $18 million. The company’s registered agent, attorney Josh N. Bennett, declined to comment on the transaction.

Schultz is best known for transforming Starbucks from a small coffee bean retailer into a global coffeehouse chain. He stepped down as Starbucks’ CEO in 2023 and left the board, but remains an influential figure within the company.

Schultz and his wife have lived for decades in the Seattle area, where Starbucks is headquartered. In his statement, he said, “Over the years, Sheri and I have built our family and helped grow Starbucks globally. We have witnessed the incredible development of Seattle firsthand. We hope Washington State continues to be a fertile ground for business and entrepreneurial spirit.”

He added that the couple’s private family office will relocate to Miami, but their charitable foundation will continue to operate in Seattle.

Schultz’s spokesperson declined to comment on the Four Seasons apartment transaction. His real estate agent, Liz Hogan of Compass, also did not respond to requests for comment.

The Surfside Four Seasons Private Residences are located north of Miami Beach and were built around 2016. Last year, tech entrepreneur Daniel Nadler purchased a fully furnished top-floor unit in the development for $38.2 million in cash.

Schultz is one of the recent high-profile billionaires to buy property in South Florida. In recent months, Larry Page, Sergey Brin, and Mark Zuckerberg have all purchased homes in the Miami area amid concerns over California’s new wealth tax.