Former Starbucks CEO Howard Schultz won’t run for president in 2020.
Schultz, who had considered running for the White House as an independent, put his presidential ambitions on hold in June after he had three back surgeries. Schultz, 66, said at the time that he would decide whether to enter the race after Labor Day.
“Not enough people today are willing to consider backing an independent candidate because they fear doing so might lead to re-electing a uniquely dangerous incumbent president,” Schultz said in an email to supporters Friday.
The billionaire has railed against the Democratic Party, accusing it of threatening democracy by moving too far to the Left. His possible candidacy was seen by Democrats as a spoiler to defeating President Trump in the upcoming election. Schultz acknowledged the risk in his letter.
“Unfortunately, election rules in each state and the way this Democratic nomination process has unfolded pose another challenge: It has become more likely that the Democratic nominee will not be known before the deadlines to submit the required number of signatures for an independent to get on the ballot. If I went forward, there is a risk that my name would appear on ballots even if a moderate Democrat wins the nomination, and that is not a risk I am willing to take,” he said.
Schultz, who planned to spend more than $100 million on his bid, said he would instead contribute that money to “people, organizations and ideas that promote honesty, civility and results in our politics, and that move the country beyond two-party gridlock.”
