Schultz, describing himself as a "lifelong Democrat", said Americans were exhausted of the behaviour of both the Republican and Democratic parties.
He has hired consultants including Steve Schmidt, who managed John McCain's presidential campaign, who are said to be exploring the possibility of an independent run.
He started working for the original Seattle Starbucks chain back in 1982 when it only had 11 outlets selling coffee beans.
He's waded into contentious social issues. Last year, after two black men were arrested in a Philadelphia Starbucks while waiting for a business meeting, Starbucks closed 8,000 USA stores early so employees could take anti-bias training.
Other Democrats that have spoken out against the prospect include former Obama senior adviser David Axelrod, Sen.
Neera Tanden, the president for the liberal Center for American Progress, also blasted Schultz, saying she would boycott Starbucks if he ran.
Pressure on May to gain concessions on Brexit backstop
But Education Secretary Damian Hinds said alternatives to the controversial Northern Irish backstop were already being considered. One Tuesday night, in a series of votes on parliamentary amendments, they will set out what they want her to do next.
However, some of his views might also clash with a Democratic Party gearing up to unseat Trump. Additionally, Sen. Elizabeth Warren of MA and Sen.
"I have a long history of recognizing, I'm not the smartest person in the room, that in order to make great decisions about complex problems, I have to recruit and attract people who are smarter than me and more experienced, more skilled, and we've got to create an understanding that we need a creative debate in the room to make these kind of decisions", Schultz said. Elizabeth Warren and California Sen.
"It concerns me that so many voices within the Democratic Party are going so far to the left", Schultz told CNBC last June.
In the interview, he said he favoured a path to citizenship for undocumented immigrants now in the country, favoured rejoining the Paris climate accords and criticised the Democratic promise of "free health care" for all as unrealistic.
Will Stiles worked at Starbucks for 17 years.
But Schultz had vision and drive, and he had the workers undergo training in sales and in the product, Stiles said. Over the years, he has offered health insurance, tuition aid, and stock options to employees.
Nearly immediately, panic broke out among liberals that Schultz could play a spoiler, much like how - fairly or unfairly - Democrats blamed Ralph Nader for George W. Bush's win against Al Gore in 2000 and Republicans faulted Ross Perot for hurting George H.W. Bush's reelection bid in 1992 to Bill Clinton. Stiles said he believes Schultz could similarly inspire Americans to be more invested in the country's future.