According to MacroTrends, as of November 2022, Starbucks has a net worth of $114.27 billion. In 2021, the net worth reached over $148 billion. In April 2009, Starbucks broke the $10 billion mark and hasn’t looked back.
To put this in perspective, McDonald’s has a net worth of over $201 billion and Chipotle Mexican Grill has a net worth of $42 billion as of 2022.
It’s hard to wrap your mind around such figures. But if you love chocolate chip Frappuccinos or pumpkin spice lattes, you’ve probably made your fair share of trips to the Starbucks drive-thru lane.
Your purchases have helped Starbucks grow into the global empire it is today. Let’s learn more about this coffee giant.
What Is Starbucks?
Starbucks is a multinational coffee chain with its headquarters in Seattle, Wash. It’s the world’s largest coffee chain, with more than 35,000 locations worldwide.
More than 15,800 of these locations are in the United States. Depending on the one you visit, most Starbucks shops serve lattes, cold brews, espressos, teas, juices, and bakery items.
Which Company Owns Starbucks?
The answer to this question is easy — no one. No one company owns Starbucks. Rather, a board of directors runs the coffee company.
Mellody Hobson has served as chairperson since March 2021. The other board members include Richard Allison, the retired chief executive officer and former director of Domino’s Pizza, Andrew Campion, the chief operating officer of Nike, and Jørgen Vig Knudstorp, the executive chairman of the LEGO brand group.
Isabel Ge Mahe of Apple, Satya Nadella of Microsoft, Joshua Cooper Ramo of Sornay, and Clara Shih of Salesforce.com also join Starbucks CEO Howard Schultz on the board.
Who Is Starbucks Largest Shareholder?
According to Investopedia, the top five shareholders of Starbucks are Vanguard, BlackRock, State Street, Magellan Asset Management, and the current CEO, Howard Schultz.
Vanguard is one of the world’s largest investment management companies and has about $6.2 trillion in global assets under management.
According to CNN Business, Vanguard holds approximately 99 million shares of Starbucks compared to BlackRock, which has about 48 million shares.
Who Is Starbucks CEO?
Jerry Baldwin, Zev Siegl, and Gordon Bowker founded Starbucks in 1971. At this point, the company only sold coffee beans, not drinks. Howard Schultz bought the company in the 1980s and started an aggressive campaign to grow the franchise.
He was the chief executive officer from 1986 to 2000. Orin Smith then became the chief executive officer for five years. He increased sales during his tenure to $5 billion.
Jim Donald followed Smith from 2005 to 2008, then Schultz returned as CEO in 2007, leading the company for another decade.
In 2010, Kevin Johnson succeeded Schultz, but in March 2022, the company announced that Schultz would return as interim CEO after Johnson’s retirement. Schultz is currently serving as CEO until Laxman Narasimhan takes over on April 1, 2023.
Narasimhan earned an MBA in finance from the Wharton School at the University of Pennsylvania and now lives in Connecticut with his wife and two children.
What Is the Cost of a Starbucks Franchise?
Starbucks is not a franchise, so you can’t own a location. However, a license will cost $315,000. This means you can open a location and rent the Starbucks brand for a fee. Starbucks doesn’t allow individual owners to keep control over product quality.
Pro Tip: We’re spilling the coffee beans. Check out these 7 Secrets of Starbucks.
How Much Does Starbucks Make in a Day?
In November 2022, Starbucks released its Quarter 4 and Full Fiscal 2022 Results. This report revealed that consolidated net revenues were up 3%, and comparable store sales were up 11% in the United States.
Chief Financial Officer Rachel Ruggeri said, “We are incredibly proud of our Q4 performance, and our 2023 guidance sets the stage for another year of record performance.”
In 2021, company-operated stores generated 85% of the total net revenue of Starbucks. About 75% of sales are generated from beverages, while 20% come from food items and 5% from other things.
Total net revenues in 2021 increased 24% from 2020 to $29.1 billion. Store operating expenses cost roughly half of the revenue.
According to MarketWatch, Starbucks makes over $61 million every day. When it closed 8,000 stores in 2018 to have a racial-bias conference, MarketWatch estimated a loss of revenue of $12 million. In 2008, when Starbucks last closed its doors prior to the 2018 event, Schultz claimed the company lost about $6 million in revenue.
Who Is Starbucks Closest Competitor?
McDonald’s and Dunkin Donuts also have locations all over the world. McCafe of McDonald’s was founded in 1993 in Australia but has thousands of locations worldwide. The company has invested $381 million in expanding its Chinese market, hoping to have 4,000 locations by 2023.
Dunkin Donuts began in Massachusetts in 1950 and now has a presence in 35 countries. It has about 8,500 locations in the United States. These two chains compete with Starbucks most closely, though Starbucks still has a massive lead.
Pro Tip: Find out where Starbucks ranked in the Best (and Worst) Pumpkin Spice Drinks.
Does Starbucks Dominate the Coffee Industry?
When you compare Starbucks to Dunkin Donuts, it’s 15,800 American locations versus 8,500 U.S. locations. It’s $61 million per day versus $4.1 million per day. Clearly, Starbucks dominates the coffee industry.
But it’s not just locations and sales where they have the upper hand. The company also owns Peet’s Coffee, The Coffee Connection, Seattle’s Best Coffee, and other businesses. No matter how you look at it, Starbucks is king.
If you love coffee, you’ve likely visited a Starbucks location. What’s your go-to drink?
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