Starbucks Opens First Tea Bar

Teavana opens Thursday morning in New York City

You heard it here first: the billionaire founder of Starbucks is watching his caffeine intake. Howard Schultz, CEO of the coffee chain, won't drink coffee after 5pm.

He's more of a tea man these days, having taken a liking to the Maharaja Chai Oolong blend sold at Teavana, the mainly mall-based tea retailer Starbucks bought for $620 million last November.

On Wednesday, Schultz sipped a $4.95 cup of his new favorite at the first ever Teavana tea bar, which opens Thursday morning in New York City. Next up: a Seattle outpost, opening just before Thanksgiving.