Howard Schultz is loading up the U-Haul for Miami

The West Coast’s farewell banner has gotten a ton of use over the last few months. Former Starbucks CEO Howard Schultz said yesterday he’s retiring to Miami with his wife, joining a number of other billionaires who have recently made Florida their new home state. Schultz reflected warmly on his past 44 years building the popular coffee chain from Seattle, but his cross-country announcement on LinkedIn came the same day that Washington’s House passed a new 9.9% tax on household incomes over $1 million. The tax is expected to pass the state Senate and be signed by the governor. Meet the new neighbors: Schultz reportedly purchased a $44 million penthouse in Surfside, FL, an area just a short, highly secured jaunt from the private Indian Creek Island. The island is home to fellow former Seattle resident Jeff Bezos. It’s also got Ivanka Trump and Mark Zuckerberg, who recently ditched California to purchase a mansion there for a record-breaking $170 million. Google co-founder Sergey Brin also recently closed on a Miami-area estate for $51 million. Washington’s not alone in raising taxes on the rich: Massachusetts passed a millionaire tax in 2022, creating a blueprint that states like Virginia and Rhode Island are trying to repeat. California has a ballot measure that, if approved in November, would retroactively institute a 5% tax on billionaires. It’s prompted many to say they’ll move.—MM