Haute 100 SF Update: George Lucas Buys $10 Million Stake in Starbucks
Star Wars creator George Lucas purchased a $10 million stake in Starbucks Corp. through his trust. In a filing done by Lucas’ wife Mellody Hobson with the US Securities and Exchange Commission (SEC), Lucas’ GWL Living Trust purchased 141,573 shares last August 19 for a median $70.60 per share. The filing also claimed that the purchase of the Starbucks shares were for the “benefit of the reporting person’s spouse.” GWL Living Trust’s sole trustee and beneficiary is Lucas.
Hobson, who heads the billion-dollar Ariel Investments Inc, is required to file a Form 4 with the Securities and Exchange Commission over Starbucks transactions for herself or family members because she is a director there.
[Sources: ivcpost; drupal.thewrap]
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