Former Starbucks CEO Howard Schultz may be a billionaire, but he doesn’t really like the term.

In fact, he prefers “people of means.”

Schultz attempted to make the semantic distinction Monday night at a book event hosted by CNBC host and New York Times reporter Andrew Ross Sorkin.

In a question relayed by Sorkin, Schultz was asked if he thought billionaires had too much power in America, and he replied: