Former Starbucks CEO Howard Schultz drops out of US presidential race
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Former Starbucks CEO Howard Schultz drops out of US presidential race

Billionaire philanthropist, who has said his charitable donations are informed by his Judaism, scraps his bid for the top job

Howard Schultz
Howard Schultz

Howard Schultz, the former Starbucks CEO, is dropping his bid for an independent run for the presidency.

Schultz said he feared his candidacy could keep a moderate Democrat from ousting President Donald Trump.

The billionaire philanthropist announced his decision in a letter Friday to supporters, Axios reported.

Schultz, a long-time Democrat, launched his bid earlier this year because he feared that a left-wing Democrat would not oust Trump, whose policies and style he reviles.

“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,” Schultz said in his letter.

Schultz has said that his philanthropy is extensively informed by his Judaism.

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