Elections

Former Starbucks CEO Howard Schultz Ends 2020 Campaign

COFFEE BREAK

The billionaire conceded heā€™d have little chance of winning the presidency and said he doesnā€™t want to split the vote.

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Reuters / Andrew Kelly

Former Starbucks CEO Howard Schultz, whose ambitions to run as an independent candidate for president have been widely criticized, has abandoned his campaign for the White House. In a letter to supporters posted on his website early Friday, the billionaire said heā€™ll instead spend his campaign warchestā€”said to be more than $100 millionā€”on attempts to reduce inequality and promote political reform. In his letter, he conceded he would have little chance of becoming president, writing: ā€œNot enough people today are willing to consider backing an independent candidate because they fear doing so might lead to re-electing a uniquely dangerous incumbent president.ā€ The announcement follows the suspension of his independent presidential exploration in June.

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