Howard Schultz $21.7 Million Pay

View of home in winter

View of home in summer

Howard Schultz was paid $21.7 million in 2010 by Starbucks. This was a raise of $9.6 million over 2009. He is Starbucks’ founder and CEO. This pay package was the highest for a Washington state public company executive in 2010. This was reported in a recent Puget Sound Business Journal article. Schultz has also been in the recent news with his political and charity activities.

His home is on page 21 in LW 130 Homes. It is in Madison Park, south of the high rises, in an exclusive gated community of nine homes that are on the property of the William Garrard Reed estate. (He is the father of Gary Reed [10/1/10 blog post].) Howard drives through the community’s gate and then another gate to his property. His mansion and property, with 16,880 sq ft on 1.8 acres with 248 ft of waterfront, are the largest in community. It is best viewed between this time of year and March.

Gary Reed Moves into Madison Park Mansion

William G. “Gary” Jr. and Victoria Reed moved from their Medina home (see earlier blog below) late last year. The new home has 7,700 sq ft on 0.7 acres with 60 feet of waterfront. It is three houses south of the Reed Estate homes (pages 19 through 22 in Lake Washington 130 Homes, http://www.hundredhomes.net/). The southern home (page 22) in the Reed Estate is owned by Furman Moseley and his wife and Gary’s sister, Martha Reed Moseley. I’ve been told Furman and Martha live elsewhere and their son, Colin Moseley and his family live in that house. Colin is the current Chairman of Simpson Investment.

The 8 acre Reed Estate is where Gary and Martha grew up. It was established in the early 1900s by their grandfather, Mark E. Reed. It was that era’s version of the current Gates and Allen estates. It was subdivided in the 1940s into a private gated community of nine homes. Howard Schultz owns the most prominent of the current homes (page 21). His property has a gate inside the gate.

(Information on his previous Medina home is below.)

Gary Reed Sells Medina Mansion for $22 Million

William G. “Gary” Jr. and Victoria Reed sold their 8,600 sq ft Medina home (page 100 in Lake Washington 130 Homes, http://www.hundredhomes.net/) in September 2009. This and the Bezos estates at 5.35 acres each are the largest in Medina. This estate has 305 feet of waterfront and the property stretches over 200 yards from the shoreline to Overlake Drive. The lot is relatively flat with lush landscaping and a tennis court at the water’s edge. The sale went relatively unknown since it was a private, family transaction. The recorded buyer was Blue Water Realty LLC whose principals are Gary’s son, Doug Reed, and Sarah Reed. I have not been able to verify if that is who is living there. Please comment if you know.

Gary and Victoria have moved to their new mansion in Madison Park (see later blog above). The Seattle Times labeled Gary “the most powerful Seattle business leader you’ve likely never heard of.” He is or has been on the Boards of Microsoft, Paccar, Safeco, The Seattle Times Company and Washington Mutual. He is the grandson of Mark Edward Reed who joined Simpson Logging in 1897 and was named president after the company’s founder, Sol Simpson, died in 1906. The Reed family bought out the Simpson family and the company is now one of the largest private, family owned companies in the state. It is now Tacoma-based Simpson Investment Company. Gary worked in executive positions with the company starting in the 1960s and served as Chairman from 1971 to 1996. He oversaw the company’s expansion into plastics and other manufacturing.

(Information on his new Madison Park home is above.)

Obama – Murray Fundraiser at Glaser Mansion

The major Seattle fund raiser for President Obama and U.S. Senator Patty Murray on August 17, 2010, was at the new 7,300 sq ft mansion of Rob and Cori Glaser. 60 prominent Democratic donors attended the $10,000 per late luncheon. Rob, a former Microsoft mega-millionaire, started RealNetworks in 1995. He recently retired from his CEO position at the company.

RealNetworks produces music, video and other software for PCs, smart phones, and portable music players. Some of its best known products are RealPlayer and RealRhapsody.

Rob and his wife, Cori, are major Democratic contributors and fund raisers. They were strong financial supporters of Obama’s 2004 U.S Senate campaign.

Glaser owns two similar looking side-by-side mansions in the Madison-Park/Denny-Blaine/Madrona area. The 5,240 sq ft mansion on the left/south was built in 1980 and had a major renovation completed in 2008 when the new 7,300 sq ft mansion on the right/north was completed. This compound was not included in Lake Washington 130 Homes. It is between the McCaw and Rose Mediterranean villas on pages 38 and 40 in the book.

Gould Buys Briggs Madison Park Mansion for $10.6 Million

This house in Madison Park (page 19 in Lake Washington 130 Homes,
http://www.hundredhomes.net/) sold for $10.6 million in December 2009. The home was purchased by Frederick Beau Gould and Julie Pigott Gould. The Goulds moved from a nearby Madison Park home and their boat is named “Julie.” Frederick is a Seattle attorney. Julie is active in numerous local charities with other members of the Pigott families. The former owners, Jack and Carol Briggs, were also active in charities and the home was featured as a wonderful site for many fund raisers. The home has a pool, two kitchens and three fireplaces. The selling brochure said: “The home is wonderful for entertaining inside and outside. Inside there are large entertainment rooms with French craftsmen detailing. The outside features the pool, beautiful, well-maintained landscaping, sculptures and fountains.” The estate has 7,470 sq ft of living space on 0.7 acres with 135 feet of waterfront.