Star Wars director George Lucas has bought almost $10 million worth of Starbucks Corporation (Nasdaq:SBUX) stock, according to a recent regulatory filing by his wife, Mellody Hobson, a Starbucks board director.
According to a Securities and Exchange Commission filing from Wednesday, the George W. Lucas Living Trust bought $9.95 million in the coffee giant’s stock on Monday.
Lucas is the sole trustee and beneficiary of the trust, according to the filing. Hobson was forced to report Lucas’ purchase under securities rules because company directors must report certain trading by relatives.
The $10 million is a tiny fraction of Lucas’ wealth, estimated at $3.9 billion by Forbes. Lucas sold his previous business, LucasFilm, to the Walt Disney Company (NYSE:DIS) in October 2012, for $4 billion.
Hobson is also the chair of Dreamworks Animation Skg Inc (Nasdaq:DWA), besides heading the money management firm Ariel Investment, LLC, a mutual fund managing $4.6 billion.
Lucas and Hobson didn’t comment to Bloomberg about the purchase.
Earlier in August, Starbucks CEO Howard Schultz sold more than 400,000 of his company's shares, earning $31 million.
Earlier in July, Starbucks second quarter earnings showed strong growth, with profits, earnings per share, revenue and sales all up significantly.
Nat Rudarakanchana covers commodities and companies for the International Business Times. He is especially interested in precious metals, the food and drink industry, and...