It’s not just Starbucks CEO Howard Schultz — as things stand today, the Democratic Party’s 2020 presidential primary field could shape up to be heavy on business leaders.
Schultz, who announced his retirement from Starbucks this week, somehow wasn’t resigning under pressure after unflattering publicity due to the treatment of blacks in his company’s coffee shops, which he was quick to blame on other people.
Instead, friendly commentators fanned the flames of speculation swirling around his presidential ambitions on Monday. He declined to rule out a run for office, even for president, in an interview with the New York Times. “I intend to think about a range of options, and that could include public service,” said Schultz. “But I’m a long way from making any decisions about the future.”
Other potential Democratic candidates from the business world seem less likely to run than Schultz, but can’t be ruled out entirely. Though he’s downplayed recent speculation, Disney CEO Bob Iger’s name has been consistently listed among those considering 2020 bids. Then there’s Mark Cuban, who could run as either a Republican or Democrat. On the heels of Schultz’s announcement, Cuban confirmed to the New York Times that he’s given more thought to the possibility of running in 2020. “Yes,” he responded. “But not willing to discuss at this point.”
The same Times article also cited a source familiar with JPMorgan Chase CEO Jamie Dimon’s thinking who claims he’s ruled out a run, but that doesn’t always mean much when it comes to presidential primaries, and Dimon has signaled his interest in the past.
Before the company’s disastrous spring, Facebook executives Mark Zuckerberg and Sheryl Sandberg seemed more likely to explore candidacies. Though he’s been subject to intense scrutiny in recent months, Zuckerberg, in particular, probably shouldn’t be altogether ruled out from 2020. The CEO went on a nationwide listening tour last year and has made other noteworthy moves as well.
And don’t forget hedge fund billionaire Tom Steyer, who’s already made major waves in the 2018 cycle.
Of course, one business leader’s decision to join the race could potentially clear the field of any similar candidates, with others assuming the lane would be too crowded. But it seems increasingly likely that in the party’s efforts to put up a formidable opponent to President Trump, at least one strong candidate from the business world will emerge, perhaps hoping to defang some of his credibility by virtue of their shared career backgrounds.
And don’t forget that all of this could be intensely complicated by the strain of anti-corporate sentiments that runs strong among the party’s base, already nudging possible 2020 contenders like Sen. Kamala Harris, D-Calif., to the Left as primary season approaches.
