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Former Starbucks CEO won't run for president

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Former Starbucks CEO Howard Schultz on Friday ended speculation he would run for president.

Schultz has teased running as an independent candidate since January.

"The money that I was prepared to commit to a presidential campaign will instead be used to invest in people, organizations and ideas that promote honesty, civility and results in our politics, and that move the country beyond two-party gridlock," Schultz said in a letter to supporters.

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