Former CEO of Starbucks Howard Schultz announced Friday that he would not continue to explore a presidential run in 2020, saying that he would spend the money he would have spent on the campaign to “transform our broken system.”
Schultz said that he didn’t want to be an independent candidate for president if a moderate Democrat won the nomination. He also cited back problems and voter apathy as reasons for backing out.
“My belief in the need to reform our two-party system has not wavered, but I have concluded that an independent campaign for the White House is not how I can best serve our country at this time,” he wrote in a letter on his website.
He said he plans to spend his money on “people, organizations and ideas that promote honesty, civility and results in our politics, and that move the country beyond two-party gridlock.”
Schultz is a billionaire businessman like President Donald Trump, although there are more obstacles to a candidacy outside the two major parties. He would have posed the biggest threat to Joe Biden, who styles himself as a moderate.
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