The net worth and compensation package of new Starbucks CEO Brian Niccol

Starbucks has grown from a small local business in Seattle’s Pike Place to an international behemoth that has become synonymous with modern coffee. Every now and then, however, a successful company experiences a growth spurt and needs outside help to recover.

Starbucks (SBUX) attracted Brian Niccol of Chipotle Mexican Grill (CMG) to be its next CEO to help turn around declining sales and draw more customers into its stores to buy the brand’s signature pumpkin lattes and favorite condiments like sausage, cheddar and egg sandwiches.

This type of recruitment is profitable and will definitely increase Niccol’s net worth.

Related: Starbucks 2024 Fall Menu: When It’s Dropping and What to Order

Who is Brian Niccol?

Brian Niccol was born in 1974 in Orange County, California, and received his Bachelor of Applied Science and Engineering Management degree from Miami University (Ohio) in 1996. He later received an MBA from the University of Chicago Booth School of Business .

After graduating from Miami, Niccol held various brand management positions at Procter & Gamble (p) for almost a decade. In 2005, he held various executive positions at Pizza Hut, a unit of Yum! Brands.

What makes Niccol a turnaround specialist?

In 2011, Niccol was promoted to Director of Marketing and Innovation at another Yum! Brands subsidiary, Taco Bell. Two years later, he became its president and, from 2015 to 2018, its chief executive. He is credited with revitalizing the Taco Bell brand by attracting younger customers and introducing popular menu items such as Doritos Locos Tacos.

In March 2018, Niccol was hired by Chipotle to be its CEO. There, he oversaw a transformation of the burrito maker at a time when it was facing public scrutiny over the quality of its food. During his tenure, the company’s stock price rose nearly 800% as revenue nearly doubled and profit grew nearly sevenfold.

In August 2024, Starbucks hired Niccol to lead a similar transformation at the world’s largest coffee chain. The Seattle-based company cited its focus on Chipotle’s people and culture, brand, menu innovation, operational excellence and digital transformation for setting new standards in the industry.

He succeeds Laxman Narasimhan, whose two-year tenure at Starbucks was marked by shrinking profit margins, declining same-store sales and a slump in stock prices.

Starbucks is looking to Brian Niccol, the former CEO of Taco Bell and Chipotle Mexican Grill, to turn around its business and bring customers back to its stores.

Robin Marchant/Getty Images

What is the net worth of Brian Niccol?

Niccol is a multi-millionaire, and most of his wealth comes from the income he earned in the C-Suite, particularly during his time in executive positions at Chipotle and Yum! trademarks (YUM) along with what he expects to receive as CEO of Starbucks.

According to most sources, Niccol’s fortune is estimated to be at least $67 million as he joins Starbucks.

As of April 2024, Niccol owned more than 22,000 shares of Chipotle, valued at more than $1 million. He has sold tens of millions of dollars in Chipotle stock in recent years.

Related: Starbucks Pumpkin Spice Latte: Everything You Need to Know About the Iconic Fall Drink

How much did Niccol earn as CEO of Chipotle?

In 2023, he received a base salary of $1.3 million and stock options and bonuses that increased his total compensation to $22.5 million.

More Executive Net Worth:

• Home Depot founder Arthur Blank net worth: Investments in Atlanta Falcons and farms
• Jensen Huang Net Worth: How Nvidia Founder’s AI Stakes Made Him a Billionaire
• What is Elon Musk’s net worth?

How much does Niccol earn as CEO of Starbucks?

When Niccol takes over as CEO of Starbucks on September 9, 2024, he will receive an annual salary of $1.6 million. He received a $10 million signing bonus and was given $75 million in stock options to offset the loss of his Chipotle equity.

To meet Starbucks’ incentives, Niccol could earn nearly $9 million.

How does Brian Niccol spend his money?

Niccol is a big supporter of the University of Miami. In early 2024, he and his wife, also an alumna, donated $2 million to the school for the men’s basketball team.

Related: Veteran fund manager sees world of pain coming for stocks