There is plenty of money in coffee!!! The superyacht owned by the former Chief Executive and chairman of Starbucks is cruising in Mallorcan waters. Howard Schultz's 254-foot vessel, named Pi, boasts a range of over 4,500 nautical miles and onboard spa facilities, including a glass-bottomed swimming pool.
The superyacht, Pi, believed to be worth $200m, can accommodate up to 12 guests in six cabins and a crew of 18 people. At 254 feet long and 37 feet wide, Pi ranks as the 183rd biggest yacht in the world.The vessel is powered by MTU engines, which make it capable of speeds up to 18 knots.It features its own helicopter landing pad as well as various onboard luxury spa facilities.
Schultz was named the 209th-richest person in the U.S. by Forbes with a net worth of $4.3 billion (October 2020). Schultz began working at 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 publicised coffee wars.
He stepped down as CEO in 2000, succeeded by Orin Smith. Due to the rapid expansion of Starbucks under Schultz's leadership, he has been described as the “Ray Kroc of his generation”.