Howard Schultz built Starbucks into a global coffee empire and accumulated a $3.5 billion fortune. But he still qualifies for a Social Security check every month.
The former Starbucks CEO turned 72 in July 2025, making him eligible for the maximum possible Social Security benefit. Here’s how much he could be collecting and why wealthy Americans still receive these payments.
The Maximum Social Security Benefit
Schultz was born in 1953, which means his full retirement age is 66. If he waited until age 70 to claim benefits, he could receive up to $5,251 per month in 2026. That works out to $63,012 per year.
To qualify for this maximum amount, Schultz would need to meet two requirements. First, he must have earned at least the Social Security taxable maximum in 35 separate years. Second, he had to delay claiming benefits until age 70.
The taxable maximum changes each year. In 2025, it stood at $176,100. In 2026, it is $184,500. Any income above that amount is not subject to Social Security taxes and doesn’t count toward future benefits.
Schultz almost certainly met these requirements. He joined Starbucks in 1982 and served as CEO multiple times over several decades. His salary and compensation during those years would have easily exceeded the taxable maximum.
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Why Billionaires Get Social Security
Many people assume billionaires don’t collect Social Security or receive massive payments. Both assumptions are wrong.
Social Security benefits are based entirely on earned income that was subject to payroll taxes. Whether someone has $100 or $10 billion in assets makes no difference for eligibility. The only factors that matter are age and work history.
Anyone who worked for at least 10 years (40 quarters) and paid Social Security taxes during that time qualifies for benefits at age 62 or older. This includes billionaires who earned salaries or ran businesses where they paid themselves wages.
The catch is that benefits are capped. Even if Schultz earned $10 million per year during his career, Social Security only counted the first $176,100 (using 2025 numbers). Someone who earned exactly $176,100 and someone who earned $10 million pay the same Social Security taxes and receive the same benefit.
This means wealthy Americans can’t buy their way into larger Social Security checks. The maximum benefit stays the same regardless of total wealth.
The Income That Doesn’t Count
Not all billionaire income qualifies for Social Security. The program only covers earned income from jobs or businesses where someone actively participates.
Investment income like stock dividends, capital gains, interest and royalties is not subject to Social Security taxes. Billionaires who live primarily off investment income may never pay into the system and therefore never qualify for benefits.
For example, someone who inherited $1 billion and never worked would not be eligible for Social Security retirement benefits. Their wealth is irrelevant without the required work history.
Schultz clearly earned substantial salaries and compensation during his decades at Starbucks. Those wages were subject to Social Security taxes up to the annual cap, which means he paid into the system and earned the right to collect benefits.
Does Schultz Actually Collect?
We don’t know for certain whether Schultz collects his Social Security benefits. There is no requirement for public figures to disclose this information.
However, most people who qualify for Social Security do claim their benefits eventually. The money is theirs by right after paying into the system for decades. Many wealthy individuals view it as recovering taxes they already paid rather than accepting a handout.
At $5,251 per month, Schultz’s maximum Social Security benefit would represent a tiny fraction of his overall income. His Starbucks stock holdings alone are worth over $1 billion. But $63,012 per year is still real money that he earned through his work history.
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This article originally appeared on GOBankingRates.com: How Much Is Starbucks’ Former CEO Howard Schultz’s Social Security Check?
