WATCH: Howard Schultz Says ‘The Moniker ‘Billionaire’ Now Has Become the Catchphrase. I Would Rephrase That and Say… ‘People of Means”


Former Starbucks CEO and potential independent 2020 presidential candidate Howard Schultz no longer wants to be referred to as a billionaire because he believes it has “become the catchphrase.”

Schultz, whose net worth is $3.4 billion, would prefer the term “people of means,” he told Andrew Sorkin of the New York Times and CNBC on Monday.

“Do you believe billionaires have too much power and influence?” Sorkin asked Schultz.

“The moniker ‘billionaire’ now has become the catchphrase,” Schultz replied. “I would rephrase that and say that ‘people of means’ have been able to leverage their wealth and their interest in ways that are unfair, and I think that speaks to the inequality but it also speaks to the special interests that are paid for people of wealth and corporations who are looking for influence.”

Watch below:

Except that is exactly what Schultz is doing, and it is definitely not the way to win over liberal voters.

People floated other possible labels, and they are perfect.


Schultz also said that Representative Alexandria Ocasio-Cortez’s (D-NY) proposed 70 percent marginal tax rate on incomes above $10 million “un-American.”

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