Howard Schultz not running for president in 2020

By PoliticsFOXBusiness

Former Starbucks CEO Howard Schultz will not run for president in 2020

FBN's Maria Bartiromo on former Starbucks CEO Howard Schultz deciding not run to for president in 2020.

Former Starbucks CEO Howard Schultz announced Friday he would not move forward with a presidential campaign.

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Schultz, since January, had teased running as an independent but officially abandoned a potential White House bid in order to avoid being a spoiler for the Democratic nominee, he said.

"The money that I was prepared to commit to a presidential campaign will instead be used to invest in people, organizations and ideas that promote honesty, civility and results in our politics, and that move the country beyond two-party gridlock," Schultz said in a letter to supporters.

Schultz's decision was partly motivated by a back injury that required three surgeries, he said.

Had he run, the businessman would have been the richest 2020 candidate with a net worth of $4.6 billion according to Forbes. That's more than newcomer Democratic candidate Tom Steyer's $1.6 billion and even President Trump's $3.1 billion.

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