Howard Schultz (net worth $3.4bn) wants people to stop using the word ‘billionaire’

Former Starbucks CEO Howard Schultz doesn’t like people using the time period ‘billionaires’ to describe billionaires, as a substitute, the multi-billionaire prefers the time period ‘people of means.’

Speaking at a Barnes & Noble e-book occasion final week, Schultz responded to a query about whether or not billionaires have an excessive amount of energy in the US by specializing in the time period ‘billionaire.’

“The moniker ‘billionaire’ now has become the catchphrase,” he mentioned. “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.”

While Schultz’s reflections on inequality and particular pursuits rang true, people took concern together with his concern over the use of the word billionaire and a few steered different phrases that could possibly be utilized.

Schultz, estimated to be worth $3.four billion, went on to say that if he runs for president he “is not in bed with any party.”However, a billionaire having the ability to contemplate operating for president as an unbiased with none expertise could possibly be seen for instance of “people of means” having the ability to “leverage their wealth” to get extra energy, as many social media customers identified.