Il Giornale acquired Starbucks in 1987 for $3.8 million, according to an account of the deal published by About Starbucks and circulated in a LinkedIn post dated September 25, 2026.
The source states that Howard Schultz left Starbucks to build his own coffee company, Il Giornale. When Starbucks' founders decided to sell, Schultz began scrambling to raise the capital. According to Schultz, a competing Seattle investor attempted to acquire Starbucks instead, and Schultz thought his dream might be over.
The account says Bill Gates Sr., described as a prominent Seattle attorney and the father of Microsoft co-founder Bill Gates, heard what had happened, confronted the competing investor and helped clear the path for Schultz to pursue the acquisition. Gates Sr. and his son also offered to help him raise the money.
Schultz ultimately secured the $3.8 million, Il Giornale acquired Starbucks, and the company took the Starbucks name, the source states.
The source describes what followed as one of the most recognizable business expansion stories in modern history, and draws the lesson that great businesses are built through vision, persistence, relationships and capital, along with having the right people available when opportunity arrives.