Inside Howard Schultz’s $44M Florida "Billionaire Landing Pad" as Washington State Enacts Millionaire Tax

Ex-Starbucks CEO Howard Schultz moves to Florida as Washington state enacts a 9.9% millionaire tax. Step inside his $44M Four Seasons penthouse in Surfside.

By: AXL Media

Published: Apr 5, 2026, 2:16 PM EDT

Source: Information for this report was sourced from Fox Business

A Legacy Reborn in Surfside

After 44 years in Washington state, Howard Schultz and his wife, Sheri, have officially transitioned to their "retirement phase" in Surfside, Florida. Their new residence at the Four Seasons Private Residences at The Surf Club is a sprawling five-bedroom penthouse acquired for $44 million—a reduction from its original $55 million listing price. The property is a masterclass in modern coastal luxury, featuring a private rooftop terrace, a central courtyard, a private garage, and an oceanfront cabana. Schultz described the move on LinkedIn as a "spirit of continuing forward," marking the end of a nearly half-century chapter that began when he first joined a small Seattle-based coffee company called Starbucks in 1982.

The "Millionaire Tax" Catalyst

The timing of the Schultzes' relocation aligns with a major shift in Washington state's fiscal policy. On Monday, March 30, 2026, Governor Bob Ferguson signed into law a controversial bill imposing a 9.9% income tax on households earning more than $1 million annually. The legislation passed the State House in a narrow 51-46 vote. Real estate experts, including Mick Duchon of The Corcoran Group, cite the "wealth tax threat" as a primary driver for the current billionaire migration to Florida. For many titans of industry, the combination of zero state income tax and a high-service environment makes the Four Seasons Surf Club a "perfect landing" for the preservation of capital.

Historical Prestige Meets Modern Luxury

Living at the Four Seasons Surfside offers more than contemporary amenities; it provides a connection to 1930s high society. The Surf Club originally opened on New Year’s Eve in 1930 and was a favored retreat for Winston Churchill and the "Rat Pack." Today, the property has been modernized to include dining by three-Michelin-starred chef Thomas Keller and a state-of-the-art hammam and spa. This blend of historical character and "no-budget" service is a significant draw for ultra-high-net-worth buyers who prioritize exclusivity and security in their "next step" adventures.