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Howard Schultz Has Alternative for Term 'Billionaire'

Former Starbucks CEO and possible 2020 contender rephrases to 'people of means'
By Newser Editors,  Newser Staff
Posted Feb 5, 2019 11:22 AM CST
Former Starbucks CEO Howard Schultz speaks Thursday at an event to promote his book "From the Ground Up" in Seattle.   (AP Photo/Ted S. Warren)

(Newser) – Former Starbucks CEO Howard Schultz's maybe-campaign for 2020 doesn't seem to be having a great start. In the latest development, Schultz is taking a ribbing for bristling at the term "billionaire" and instead suggesting something like "people of means." The details:

  • The remark: It came in an interview with CNBC's Andrew Ross Sorkin, who asked whether billionaires such as Schultz wielded too much power in the US, reports Indy100. Watch the video here.
  • The full quote: "The moniker 'billionaire' now has become the catchphrase," responded Schultz. "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." He later used the term "people of wealth," noting that such people have "unbelievable influence" on politicians allied with the major parties. He was making the case that he would be different because he'd run as an independent.

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