George Lucas Pours $10 Million Into Starbucks

George Lucas starbucks
Chip Somodevilla/Getty Images

'Star Wars' mogul's wife on the board at the coffee giant

What does one of the greatest film franchises of all-time have in common with the world’s largest coffee shop chain? That would be George Lucas.

The “Star Wars” creator invested almost $10 million in Starbucks Corp. this week. According to Bloomberg, Lucas’ GWL Living Trust bought 141,573 Starbucks shares, which have climbed 34 percent this year, on Aug. 19 at an average price of $70.60.

The billionaire’s new wife, Mellody Hobson — a member of the Starbucks board and the president of the money-management firm Ariel Investments — reported the transaction yesterday. Even though Lucas is the sole beneficiary of the trust, Hobson, as a Starbucks director, must file her and her family’s transactions in company shares.

“These shares are held in a trust for the benefit of the reporting person’s spouse,” Hobson wrote in the Form 4 filing with the U.S. Securities and Exchange Commission.

Lucas recently sold his company Lucasfilm Ltd. to Disney for about $4 billion of cash and stock.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 5

Leave a Reply


Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

  1. Frankie says:

    I won’t drop a dime into Starbucks. They’ll give you health benefits but you can’t afford the co-pay. Corporate thinks you’re getting tipped with one dollar bills, when in reality, it’s left over change. Working conditions (no mats on the floor by sinks and ice machine, made to work when the a/c is not working) are bad. Dealing with their workers comp carrier is impossible if you get injured. The attitude and laziness of the workers towards customers is so wrong. Overpriced, over-hyped! As a retail outlet, they’re just another Walmart. And then of course, the whole thing about bring your gun (licensed and legal of course) to Starbucks day on 8/24….PLEASE!

  2. Conrad says:

    0.25 percent of his wealth. Not even a drop in the bucket for Jar Jar Banks. Why is this news?

  3. G. Jardoness says:

    Bad move George, bad move.

    Now that you’re no longer directing — I mean; Sitting in a chair, staring at your ‘Camera A’ and ‘Camera B’ monitors of lifeless characters spouting infantile dialogue in front of a green-screen, while you kick-back and suckle that bottomless cup of coffee — the stock price is bound to suffer.

More Biz News from Variety