Billionaire entrepreneur Howard Schultz has reportedly purchased a penthouse residence in the Surf Club, Four Seasons Private Residences in Surfside, Florida for roughly $44 million, The Wall Street Journal reported. The move comes as Schultz and his wife Sheri relocate from the Seattle area to South Florida, where he says they plan to begin a new chapter of their lives. Schultz previously spent decades building Starbucks ($SBUX) into one of the world’s most recognizable coffee brands before stepping away from leadership in recent years.
The residence spans about 5,500 square feet and includes five bedrooms, a landscaped interior patio, and a large rooftop outdoor space with views of the Atlantic. The property was originally marketed for $55 million in late 2024 before its asking price was lowered to $49.9 million last year. High-end residential properties in the Miami region continue attracting wealthy buyers from across the country, including several technology founders and business leaders who have recently acquired homes in the area.