Starbucks CEO Howard Schultz officially rejoined the billionaires’ club since he fell off the wagon in 2007, according to Forbes:Schultz last appeared in our billionaire ranks in 2007 with a net worth of $1.1 billion, enough to be ranked no. 840. From then on, the coffee maker’s shares began a long downward spiral, losing about 80% of their value by late 2008 … The stock nearly doubled since last fall and recently hit an all-time high.
Meanwhile, the Wall Street Journal reports that earlier this month, Starbucks workers in Chile went on strike over their $2.50/hour wages; and yesterday members of a IWW Starbucks Workers Union in New York City protested in solidarity. IWW members are planning another event near the Starbucks headquarters in Seattle.
Schultz has come a long way since he grew up in the Brooklyn housing projects. Today, in addition to his CEO job, he co-runs the venture capital firm Maveron; and earlier this year he joined Groupon’s board of directors.
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