Seth Goldman (businessman)
Seth Goldman | |
|---|---|
| Born | 1965 United States |
| Occupation | Entrepreneur |
| Known for | Co-founder and former CEO of Honest Tea; Executive chairman of Beyond Meat |
Seth Goldman (born 1965) is an American entrepreneur, recognized as the co-founder and former CEO of Honest Tea, which he established in 1998 alongside his former business professor, Barry Nalebuff. Presently, he serves as the executive chairman of Beyond Meat, a company specializing in plant-based protein products headquartered in El Segundo, California.
Personal life and early career
Goldman grew up in Wellesley, Massachusetts, influenced academically by his father, economist Marshall Goldman, and his mother, Merle Goldman, a professor of Chinese history. He completed his secondary education at Noble and Greenough School in 1983 before enrolling at Harvard University, where he majored in government while participating in cross country and track teams. Following his 1987 graduation, Goldman spent time teaching English in Russia and Beijing and later contributed to Michael Dukakis' 1988 presidential campaign. Subsequently, he held the position of deputy press secretary for Dukakis’ vice-presidential candidate, Senator Lloyd Bentsen, for three years. Motivated by a desire to harness private sector initiatives for societal benefit, Goldman pursued graduate studies at the Yale School of Management.
During this period, he volunteered with Americorps and completed an internship at the United States Department of State. In 1990, he married Julie Farkas—whom he met while working on the Bentsen campaign—and both taught English at a cooperative school in Moscow. The couple has three sons and adheres to a vegan lifestyle.
After obtaining his MBA from Yale in 1995, Goldman joined the socially conscious mutual fund company Calvert Investments, where he eventually became vice president. This role shaped his philosophy toward creating mission-driven enterprises such as Honest Tea.
Honest Tea
In January 1998, Goldman launched Honest Tea, an idea first developed during his MBA studies at the Yale School of Management in 1995. Upon evaluating the beverage industry, he recognized a market void between sugary drinks with high calories and calorie-free waters. He envisioned a low-calorie drink that offered appealing flavors. The concept materialized three years later during a trip to New York City. Goldman sought guidance from his former Yale professor Barry Nalebuff, who became both mentor and primary investor by contributing most of the $500,000 initial capital; Goldman supplemented this with funds raised from friends and family. Nalebuff also coined the name "Honest Tea," symbolizing the brand’s dedication to transparency. Initially, operations were managed from Goldman's home office.
In 2011, Coca-Cola purchased a 40% stake in Honest Tea for $43 million, securing an option to acquire full ownership later. This acquisition drew criticism from supporters of organic products because Goldman needed to reacquire several distributor agreements that had been instrumental in Honest Tea’s expansion.
Goldman and Nalebuff collaborated on a graphic business guide published in 2013 that recounted their entrepreneurial experience. The book was well-received for effectively combining Goldman's focus on social impact with Nalebuff’s economic expertise.
In 2015, Goldman resigned as CEO to assume the role of executive chairman at Beyond Meat, retaining up to a 10% share in Honest Tea. He maintained his salary while transitioning to part-time responsibilities assisting Coca-Cola's Venture and Emerging Brands Unit with consumer engagement strategies. This career shift coincided with personal milestones such as his youngest son completing high school. As of 2019, Goldman remained involved with Honest Tea’s ongoing operations.
Beyond Meat
Goldman's interest in Beyond Meat was sparked in 2012 after his wife brought an article about the company to his attention. He joined the firm as executive chairman in 2015, dividing his efforts between Honest Tea in Bethesda, Maryland and Beyond Meat located in Manhattan Beach, California. When Beyond Meat went public on May 2, 2019, Goldman owned a 2% share in the company.