Howard Schultz’s announcement that he’s stepping down as executive chairman of Starbucks has fueled rumors that he is eyeing a run for president in 2020, the New York Times reports. And Schultz is notably not fully denying them.
“On June 26, 2018, I will officially leave Starbucks and become chairman emeritus,” Schultz wrote in a statement. “This will be an emotional transition, but I’m looking forward to spending time with my family this summer.”
When asked directly about any plans he has in politics, he reportedly acknowledged to the New York Times in a new interview that it’s a possibility.
“I want to be truthful with you without creating more speculative headlines,” he reportedly said. “For some time now, I have been deeply concerned about our country—the growing division at home and our standing in the world.”
“One of the things I want to do in my next chapter is to figure out if there is a role I can play in giving back,” he continued. “I’m not exactly sure what that means yet.”
When pressed about a presidential run, Schultz told the Times: “I intend to think about a range of options, and that could include public service. But I’m a long way from making any decisions about the future.”
Town and Country points out that Schultz, who Forbes estimates is worth $2.7 billion, could easily afford a run. We’ll find out whether he will soon enough.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.