New Starbucks CEO Brian Niccol Boosts Company Valuation By Over $15B In One Day: What's His Net Worth?
Author: Aaron Bry | August 15, 2024 10:13am
When Starbucks Corp (NASDAQ:SBUX) announced Brian Niccol as its new CEO, the company's stock jumped around 20%, adding more than $15 billion in valuation to the coffee giant.
But, how much is Niccol, the former CEO of Chipotle Mexican Grill (NYSE:CMG) actually worth?
Niccol joined Chipotle as the company's CEO in 2018, and before that was the CEO of Taco Bell, owned and operated by Yum! Brands (NYSE:YUM). Niccol has amassed stock holdings of both Chipotle and Yum!, as well as Walmart Inc (NYSE:WMT) where he sits on the board.
See Also: Brian Niccol Is The ‘Key To A New Starbucks’, Says Jim Cramer: ‘Turnaround Can’t Happen Overnight’
Niccol's Net Worth: Through various stock buys and compensation packages, Niccol's stocks are worth more than $300 million, according to Benzinga's Insider Trades page. Niccol did, however, begin offloading some of his Chipotle shares in 2023, selling in more than 10 different instances.
Niccol will continue to grow his stock portfolio with his new gig, with reports indicating that he will receive $85 million in cash and stock from Starbucks as he takes over the struggling coffee company. Starbucks's stock has underperformed the overall market, down more than 6% in the last year against the S&P 500's gain of more than 24% in the same time period.
Niccol was able to navigate Chipotle through a difficult time during the COVID-19 pandemic, and continued to grow sales and revenue while other restaurant companies struggled.
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