Howard Schultz Joins Billionaire Friends in Miami

Former Starbucks CEO purchases $44 million penthouse in Surfside, Florida

Mar. 12, 2026 at 5:04am

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Former Starbucks CEO Howard Schultz has announced his retirement, purchasing a $44 million penthouse in Surfside, Florida. Schultz is joining a growing number of billionaires who have recently made Florida their new home state, including Jeff Bezos, Ivanka Trump, and Mark Zuckerberg, who have all purchased properties on the private Indian Creek Island.

Why it matters

The influx of billionaires to Florida, particularly the Surfside and Indian Creek Island areas, highlights the state's growing appeal as a tax haven for the ultra-wealthy. This trend comes as states like Washington, Massachusetts, and California consider raising taxes on high-income households and billionaires, prompting some to seek out more tax-friendly locations.

The details

Schultz's $44 million penthouse purchase in Surfside, Florida, places him in close proximity to other billionaire residents of the nearby Indian Creek Island, including Jeff Bezos, Ivanka Trump, and Mark Zuckerberg. The island is known for its high level of security and exclusivity, catering to the ultra-wealthy.

  • On March 11, 2026, Howard Schultz announced his retirement and purchase of a $44 million penthouse in Surfside, Florida.
  • The same day, the Washington state House passed a new 9.9% tax on household incomes over $1 million, which is expected to be signed into law.

The players

Howard Schultz

Former CEO of Starbucks who has purchased a $44 million penthouse in Surfside, Florida, as part of his retirement.

Jeff Bezos

Billionaire and former CEO of Amazon, who has a home on the private Indian Creek Island in Florida.

Ivanka Trump

Billionaire and former advisor to President Trump, who has a mansion on the private Indian Creek Island in Florida.

Mark Zuckerberg

Billionaire and co-founder of Facebook, who has recently purchased a mansion on the private Indian Creek Island in Florida for a record-breaking $170 million.

Sergey Brin

Co-founder of Google, who has recently closed on a Miami-area estate for $51 million.

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What they’re saying

“I'm retiring to Miami with my wife, joining a number of other billionaires who have recently made Florida their new home state.”

— Howard Schultz, Former CEO of Starbucks (LinkedIn)

What’s next

The influx of billionaires to Florida is likely to continue as states like Washington, Massachusetts, and California consider raising taxes on high-income households and billionaires.

The takeaway

The growing concentration of billionaires in exclusive enclaves like Surfside and Indian Creek Island in Florida highlights the state's appeal as a tax haven for the ultra-wealthy, as some states consider raising taxes on the rich.