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.)