Howard Schultz doesn't like the word 'billionaire,' prefers the more genteel 'people of means'

At a Manhattan Barnes & Nobel in Manhattan last week, financial journalist Andrew Ross Sorkin asked budding "centrist independent" presidential candidate Howard Schultz if he agreed with Winners Take All author Anand Giridharadas — plus Rep. Alexandria Ocasio-Cortez (D-N.Y.) and other wealth-tax Democrats — that "billionaires have too much power in American public life." At least one viewer enjoyed his answer.
"You haven’t lived until you've seen Howard Schultz's facial muscles react when @andrewrsorkin asks, on my behalf, if billionaires have too much power in American life," Giridharadas tweeted above a video of Schultz's answer. The interview is most famous for a heckler who called Schultz an "egotistical, billionaire a--hole," and the former Starbucks CEO began by suggesting the label "billionaire" might be a little toxic nowadays. He offered some alternatives.
"The moniker 'billionaire' now has become the catchphrase," Schultz said. "I would rephrase that and I would say '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 directly speaks to the special interests that are paid for by people of wealth and corporations who are looking for influence, and they have such unbelievable influence on the politicians who are steeped in the ideology of both parties." He's not, he said. "All I'm trying to do is one thing: Walk in the shoes of the American people."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Schultz did not at that moment explain what "ideology" has to do with money in politics, which "special interests" he finds problematic, or how "people of means" and "people of wealth" think they can "walk in the shoes of the American people" while they still have, unlike most of the American people, many billions of dollars. But he does address his humble upbringing in the hourlong Q&A, and you can watch the entire thing if you are interested.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
The Arab League's plan for Gaza
The Explainer Arab leaders reject Donald Trump's proposals to move Palestinians out of Gaza to create 'Middle East Riviera'
By Elizabeth Carr-Ellis, The Week UK Published
-
Thrilling must-see operas for 2025
The Week Recommends From Carmen to Peter Grimes, these are the UK's top productions
By Irenie Forshaw, The Week UK Published
-
There is a 'third state' between life and death
Under the radar Cells can develop new abilities after their source organism dies
By Devika Rao, The Week US Published
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
By Peter Weber, The Week US Published
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
By Peter Weber, The Week US Published
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published